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...stake in high world oil prices. Britain's North Sea oil is about 15 times more expensive to develop than Middle Eastern crude, so even a dip of a dollar or two in the world oil price, to $11 or $12 per bbl., could render the oil from some fields unprofitable. Says Oil Expert John Lichtblau: "It's no wonder that the industry joke at the moment has Harold Wilson joining Britain to OPEC and asking for a rise in the price...

Author: /time Magazine | Title: OIL: High Costs, High Stakes on the North Sea | 9/29/1975 | See Source »

...virtue of any particular humanity or warmth. At his best, Kosinski is a novelist of terror: The Painted Bird and Steps were catalogues of lurid atrocities, accounts of sadism, bestiality, and so forth, every one more horrible than the last. Kosinski's precise, emotionless prose didn't just render those atrocities in all their harsh reality; it became a part of the horror, inhuman beyond mere colorlessness. Kosinski's bestial imagination hasn't failed him in his new novel: the episodes of rape and dismemberment are as brutal and varied as ever. But there is something missing, some sense...

Author: By James Gleick, | Title: A New Jerzy | 9/19/1975 | See Source »

Cozy Homesteads. Tweaking John Bull's nose proved costly. Through the 1930s, the British government raised tariff barriers. To counter Britain's economic warfare, De Valera promoted self-sufficiency. "Ireland her own," he intoned, "Ireland her own without suit or service, rent or render, faith or fealty to any power under heaven." In 1937, the Free State declared itself a wholly independent country called Eire, thus severing the last of the links to England, and Dev became Taoiseach (pronounced tee-shock) or Prime Minister...

Author: /time Magazine | Title: IRISH REPUBLIC: The Taoiseach Is Home | 9/8/1975 | See Source »

...prices to levels far below those set by the Organization of Petroleum Exporting Countries. For his part, President Ford believed that only an eventual decontrol of prices-which would mean higher consumer costs-would encourage energy conservation, provide an adequate incentive for increased domestic oil production and ultimately render the U.S. less dependent on foreign oil supplies...

Author: /time Magazine | Title: ENERGY: A Balk on Decontrol | 9/8/1975 | See Source »

...swept through the Lower House by a vote of 336 to 0 and the Upper House by 161 to 0, was a ludicrous case of overkill. First, Indira rewrote the law under which she had been convicted. Then, once again taking no chances, she had the constitution amended to render the Supreme Court powerless to rule on her case. That is the way things are today in "the world's largest democracy...

Author: /time Magazine | Title: INDIA: Indira Wriggles Out | 8/18/1975 | See Source »

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