Word: petroleum
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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...
...military coup toppled the government three weeks ago. Before his overthrow, President Gaafar Nimeiri had been unable to fashion an economic program that satisfied the IMF. As a result, aid from creditor nations was cut off, and a lack of foreign currency led to shortages of bread and petroleum. When prices of these precious commodities jumped, crowds took to the streets shouting, "We will not be ruled...
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...