Word: turnabout
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What could generate such a turnabout in our petroleum fortunes? The industry has changed fundamentally since previous oil shocks that seemed to portend ever higher prices. Oil is coming into the market from every corner of the globe. Current exploration hot spots include the newly independent nations around the Caspian Sea and offshore West Africa. This diversification acts as an insurance policy against supply disruptions. The growing role of natural gas in the overall energy mix provides a further buffer. Information technology has also allowed the industry to search for oil and make a profit at $15 per bbl., about...
...Lyndon Johnson's decision to retire from office, coming as a surprise climax to a surprise speech on Vietnam, gave the President's newly stated conditions for ending the war the kind of impact that his own intended departure from the White House had. In a dramatic and unexpected turnabout, he announced what he called "a unilateral step toward deescalation...
...Biggest About-Face In January the National Cancer Institute sparked a fire storm when it did not recommend that women in their 40s have annual mammograms. In March it reversed itself, endorsing the tests. With 1 out of 8 women likely to contract breast cancer, the turnabout looks medically and politically smart...
...Such a turnabout would offer a stiff test for this equity culture. "If you're 30 or 40, it's nothing to worry about," says Biggs. The market always comes back. But if you're 55 or 60 and letting bills pile up while you buy stocks, the risks are acute because you have less time. Minuscule returns over a long period could mean that you won't have as much money in retirement as you thought, or that you'll have to work longer, and if you need money during the worst of the drought, you'll have...
When the French Roman Catholic Church apologized last week for collaborating with the Nazis, it felt a little late. But it turns out a half-century is a rather prompt turnabout. Here's how long it has taken the church to vent its guilt...