Word: pump
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...response to Bush's call for moderation last week, the oil companies began softening their stance. Texaco, BP America and Conoco said they would roll back gasoline prices by 1 cents to 4 cents per gal. Unocal, Amoco and Getty announced that they would freeze prices at the pump for a week or more, depending on conditions in the world markets. So for the moment, at least, the runaway price hikes that followed the invasion of Kuwait have been stopped in their tracks. But that was cold comfort to motorists, who were paying 17% more for their gasoline than just...
...some accounts, Texas will be the largest single beneficiary of the gigantic S&L bailout. A controversial study by Edward Hill, a professor at Cleveland State University, predicts the cleanup will pump about $80 billion into the Texas economy. A dozen other states, mostly in the Southwest, would also profit. Politicians from the Northeast and Midwest complain that their states would foot almost half the bill but see only 5% of the initial bailout money, as opposed to 72% in Texas...
...eventually expects to pump the liquid out of the tanks, encapsulate it in glass and store it permanently in underground sites that may -- or may not -- be developed someday in the increasingly distant future. But some engineers claim that the pumping action could increase the risk of an explosion...
...worldwide. The platinum debut album by Wilson Phillips, a group formed by two daughters of Beach Boy Brian Wilson and one daughter of Mamas and the Papas singers John and Michelle Phillips, has zoomed to No. 2 on this week's Billboard chart. Another platinum seller is Technotronic's Pump Up the Jam. The label's fast dance to the top is especially impressive for a company that has started from scratch by nurturing new artists...
...have gone to American business. Yet the overall impact of this steady loss of American economic sovereignty is not all bad. For consumers, it may bring a pleasant stability in prices. Reason: by taking a substantial stake in the refining and sale of the crude oil they used to pump for others, these newly empowered national oil companies now have much more to lose from a cutoff of crude to the West than they...