Word: underlying
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Dates: during 1970-1979
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The U.S. has tapped just about all the easily recoverable oil and gas it is likely to find within its own land area. Now the most promising areas for new finds of these fuels lie offshore, under water depths ranging from a few yards to 1,000 ft. or more...
In the U.S., Aramco is under attack because of a highly complex tax break. The company pays Saudi Arabia the fixed price for the oil that it extracts and then collects a production fee of 25? per bbl. But 85% of its payments are considered Saudi income taxes, which Aramco...
Company officers are extremely wary of divulging details of their business, and slips can prove costly. Example: much of Saudi Arabia's ability to restrain OPEC from driving up prices has depended on whether the Saudis can convincingly threaten to boost production enough to create periodic petroleum gluts. Yet...
But now France's traditionally subtle perfumes are under siege. Though the gentle Chanel No. 5 remains a bestseller, this fall's freshet of new scents was triggered by the success of Opium, which is sold under the Yves Saint Laurent label. It was so popular in Europe...
Egypt's domestic economy is a mess. Despite a growth rate of about 8% this year, the bulk of the country's 40 million people remain desperately poor, with an average income of under $300 (vs. $2,700 for Israel). In the past year, thousands of peasants have...