Word: pers
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Dates: during 1970-1979
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...further big rise in price would do shocking damage. For example, a jump to $30 per bbl. would lift OPEC's total 1980 revenues to about $300 billion, constituting a huge new international tax on economies everywhere...
...collect just as much by cutting production. Kuwait, Iraq, the United Arab Emirates, Algeria and Libya have all announced cutback plans for 1980, and others are likely to follow. Warns Gulf Oil Corp. President James Lee: "We estimate that OPEC could cut its exports by about 8 million bbl. per day, or nearly 25%, and still maintain balanced economies for its members." Reason: as the cartel sold less oil, the price for the diminished supply would automatically surge...
...will spend some $62 billion on imported oil, an average of $800 per American household...
That weapon was being battered last week. In hectic trading, the dollar plunged before recovering slightly. Gold, the traditional shelter in troubled times, rose to a record close of $434 per oz. in London, up $52 in five weeks. Traders worried mostly about the volatility of the Iranian confrontation, and they were also troubled by rising oil prices and the slight softening of U.S. interest rates...
...outspoken, well-tailored $82,500-per-year superintendent of the nation's third largest school system, Chicago's Joseph Harmon was a favorite in the Gold Coast parlors of the city's business elite. In four years on the job his scrappy resistance to busing in the racially divided system, now 80% nonwhite, won him praise from whites-and steady criticism from minorities and the Federal Government. But when Hannon recently telephoned to talk about the schools with his friend Don Reuben, a well-connected local lawyer and adviser to Chicago's Mayor Jane Byrne...