Word: petroleum
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...taxes to the government, and foreign loans help finance South Africa's purchases abroad. In addition, although U.S. investments account for a relatively small proportion of total foreign capital in the country, it is concentrated in a number of key industries: oil (constituting about 44 percent of the petroleum industry), automobiles and trucks (33 percent), and computers (roughly 70 percent). All of these industries, advocates of divestiture argue, are critically important to the South African government's capacity to maintain control and develop its economic and military strength...
...Chevrolet sedan equipped with bulletproof windows. At a stop along the way, as a group of bedraggled soldiers stood around him, Arafat said of the mutiny, "It is over. It is over." Again he blamed Gaddafi for the trouble, declaring that the Libyan leader "thought his money and his petroleum were more precious than the blood of our martyrs." Predicting that P.L.O. forces in Lebanon would be subjected to a terrible bombardment by Israeli artillery and aircraft, he told his men, "You must show the same steadfastness you demonstrated in Beirut, because if you can survive the first assault...
Energy costs are also unlikely to rebound any time soon. Crude oil prices have leveled off at about $29 per bbl. since the Organization of Petroleum Exporting Countries cut prices to that level in March. James McKie, chairman of the economics department at the University of Texas, noted that while OPEC has not collapsed, as some had predicted, the oil producers now seem powerless to push prices higher. He warned, however, that the group could regain its clout if Middle East strife once again restricts the flow of oil. Said he: "OPEC will now wait in the wings...
...national output, the projected U.S. deficit (6.3% of G.N.P.) is nearly twice as large as those of France, Britain and West Germany, and more than three times as great as Japan's. The rise in value of the U.S. dollar has another adverse effect since the cost of petroleum is denominated in U.S. dollars, meaning that francs, marks and other currencies buy less oil. This year the slippage of the franc against the dollar will add an estimated $1 billion to France's oil bill...
David A. Probst former director of corporate relations at Princeton admitted that he falsified travel vouchers for the separate holding companies which oversaw the university's petroleum and real estate interests Princeton's General Counsel Thomas H. Wright said Monday...