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Still, OPEC is expected to regain its strength sooner or later, and the U.S. is doing little to defend itself against a revitalized cartel. American oil production, which had held fairly steady since the late 1970s, declined last year. Total output fell by 3%, or 300,000 bbl. a day. The Department of Energy projects that U.S. oil production will fall by an additional 440,000 bbl. a day through...
...striking difference will be the falloff in British oil production from the North Sea. Last year 2.56 million bbl. a day were produced. By 1992 the output is expected to drop below 1.7 million bbl. a day, making Britain a net importer of oil for the first time since 1980. While Mexico's reserves should last well into the 21st century, its production is expected to stay flat for the next few years. Because of the shaky state of the Mexican economy, Pemex, the state-owned oil company, will probably be unable to make the investments needed to bolster...
...tournament history, but it just doesn't matter this year. No one in the top half of the West regional has the inside firepower to exploit UNLV's 6-ft., 8-in. 190-ib. Jarvis Basnight. Freddie Banks leads an offensive machine that has doubled the three-point output of any of the UNLV's early-round opponents, and the power game of Armon "Hammer" Gilliam (23.2 p.p.g., 9.3 r.p.g.) will put the nail in the coffin...
...means, above all, a crackdown on heavy payrolls. A large portion of the layoffs from restructuring have taken place in manufacturing. From 1979 to 1986, total U.S. manufacturing employment declined from some 21 million jobs to 19.1 million. But partly because of this slimming down, U.S. manufacturing productivity -- hourly output -- has risen by an average of 3.8% annually over the past five years, compared with 1.5% in the '70s. But no such productivity improvement is yet evident outside of manufacturing. Says Treasury's Darman: "We have to make ourselves more efficient in the service sector...
Hamburg officials ordered all cars off the road, while factories in Bremen and other cities were forced to reduce their output. West Berlin was the hardest-hit area. For two days pollution alerts were broadcast hourly on local radio and television stations, and some West Berliners looked like surgeons as they wandered along the fashionable Kurfurstendamm, the city's famed boulevard, wearing antismog masks...