Word: petroleum
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Dates: during 1990-1999
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...damages caused by the invasion," says former U.S. Ambassador Ambler Moss, who estimates the destruction's price tag to be $1 billion. Meanwhile, the surge in global oil prices has dealt the country an unexpected and potentially disastrous blow. Totally dependent on imported oil, Panama expects to see its petroleum costs double to $300 million next year. Says Comptroller General Ruben Carles: "The economy is strangled...
...lost market share to rival Philip Morris because RJR's management is so absorbed with managing the huge LBO, many analysts contend. In addition, loan payments, which average 30% of corporate cash flow, often divert money away from more productive pursuits, including research, advertising and capital spending. While Phillips Petroleum was digging out from under its $9 billion debt, the corporation had to pass up several opportunities to acquire crude-oil reserves at bargain prices...
Lost trade with Kuwait affects mostly oil-related firms. Of the $975 million in goods and services that Kuwait imported from the U.S. last year, $933 million covered sales of petroleum-testing equipment...
...country is in a position to profit from the misfortunes of the Middle East, it is Venezuela. As one of the largest exporters of petroleum outside the Persian Gulf, it stands to reap a windfall of $2 billion this year from the rise in oil prices since Iraq invaded Kuwait. Yet as seen from Miraflores Palace, the official residence of President Carlos Andres Perez, every silver lining has its cloud. "This is phony money that we're making from the crisis," said Perez last week. "Whatever it can buy today, it may bring us damage and danger tomorrow...
...Stuff-A-Pumpkin's popularity has prompted an outbreak of plastic-bag thefts, leaves and all. A Houston family ended a string of such heists by coating the bags with grip-defying petroleum jelly. Benson Zinbarg, Sun Hill's president and founder, safeguards his own Stuff-A-Pumpkin by weighing it down with bricks...