Word: petroleum
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Dates: during 1980-1989
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...away from significant challenges facing the Center. The scholars say Safran's CIA ties and style of leadership leave a legacy of suspicion and factionalization which will plague the Center in the years to come. But they also say financing Middle Eastern studies at a time when revenue from petroleum production has plummetted and the Center's own "tired blood" will present its most difficult tests...
...also heavily used to train young recruits for the Libyan army, who bear no responsibility for Gaddafi's terrorism. Bombing oil jetties and other installations could cripple Libya's economy, but at the possible price of killing German, Italian and other foreign technicians still working in the Libyan petroleum industry--and possibly even some Americans. There were 1,500 in Libya in January, and some may have disobeyed Reagan's order to get out of the country. The Libyan intelligence-service headquarters, from which Gaddafi and aides launch terrorist operations, is in downtown Tripoli and hard to hit without causing...
That is a heavy burden for even so rich a country as Saudi Arabia, especially since its great wealth has begun to shrink. From a peak of $113 billion in 1981, Saudi oil earnings dropped to $28 billion last year. Uncertainty over petroleum prices and revenues prompted Fahd last month to take the unprecedented step of postponing approval of the country's new budget until summer. To the Saudis, accustomed to decision making by royal decree, the delay was a sign of indecision and uncertainty at the country's highest political level...
Utilities, businesses, homeowners and others who still burn natural gas are winning lower costs as their fuel suppliers try to compete with oil. Consolidated Natural Gas of Pittsburgh says that its 1.5 million customers are already enjoying savings of up to 20%. If the price of petroleum keeps plunging, however, gas companies will be hard pressed to compete with fuel-oil dealers...
Farmers have a lot to gain from the oil-price slump. Agriculture absorbs 3% of all energy consumed in the U.S. each year--for diesel- and gasoline-powered machinery, for petroleum-based fertilizers and pesticides, and for pumps used to lift and distribute irrigation water. With spring planting on the way, the timing of the oil-price collapse is, from the farmer's point of view, well- nigh perfect. Diesel-fuel prices have dropped so far this year by anywhere from 23 cents to 30 cents per gal., to as low as 50 cents. Costs are expected to come down...