Word: petroleum
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Dates: during 2000-2009
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Union Texas Petroleum...
DIED. Jean Riboud, 65, French head for 20 years of Schlumberger Ltd., the huge (1984 revenues: $6.4 billion) international petroleum-services company, which he expanded from a narrow base in oil-well testing into a conglomerate with holdings in electronic instruments, semiconductors and computer-aided design systems, and forged into what was widely regarded as one of the world's best-managed firms; of cancer; in Paris...
...make a long story short (the demands here are somewhat more telescopic than those Big Jim labors under), there would be dinosaurs and much later there would be fossil fuels. Cow towns called Midland and Odessa would be established, their commercial cornerstones eventually to shift from cattle to the petroleum that lay beneath the desert pocked by what the Spanish speakers called playas and the English speakers called buffalo wallows. This would be known as the oil business, pronounced locally "thawlbidness...
Scarcely a dozen years ago, in the short span of two months, the Organization of Petroleum Exporting Countries arrogantly assaulted the industrialized world by quadrupling oil prices, to $11.65 per bbl. At a four-day meeting in Geneva last week, OPEC showed only a shadow of its former power. With the world awash in oil and consumption down, the once all-powerful OPEC cartel has an ever diminishing impact on global markets...
...technology is fast spreading to other professions as well. By mathematically building their scale models within a computer, architects can see what large buildings will look like from the ground, the air or the window of a high-rise across the street. Petroleum engineers can explore graphic versions of geological formations thousands of feet below the ocean floor without drilling. Physicians, manipulating the images produced by CAT scanners, can visually probe the brains of patients without having to perform exploratory surgery. Says Don Greenberg, director of computer graphics at Cornell University: "It's like having a doctor walk...