Word: week
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Dates: during 1970-1979
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...cartel crude. Largely as a result, third-quarter profits of Exxon, Mobil, Texaco and Socal jumped by anywhere from 73% to 211%. The revenue surge enraged the Saudis; Oil Minister Ahmed Zaki Yamani argues that Aramco's parents have been grossly profiteering from Saudi "generosity," suggesting that last week's Saudi price rise of $6 per bbl. was in part at least to punish them. In fact, Aramco's shareholders have been selling their oil products in the U.S. for prices just a bit below their competitors'. If the discounts had been any bigger, long lines...
...production capacity. Last spring Exxon and Socal divulged to the Justice Department, in its ongoing anti-trust investigation of the oil industry, that Aramco had little spare capacity. That statement helped to undercut Saudi influence over cartel price policy. On the eve of the Caracas gathering last week, Saudi officials proclaimed that the country could boost output almost immediately, perhaps to a hefty 11 million bbl. Meanwhile, the Saudi government is punishing Socal and Exxon for their indiscretion; Aramco is under orders to cut back deliveries to those two parent companies...
...Last week briefcase-toting oilmen gathered at a Fairbanks hotel to bid for drilling rights in the first small part of the U.S.'s Beaufort Sea sector to be opened to exploration. Offers by the companies totaled $2 billion for some 500,000 acres of tracts, but when the leases will be awarded is uncertain. Just four days before, a federal judge had ruled that the lease sale could not be completed until the courts resolved an environmental suit brought by the National Wildlife Federation and other groups calling for a ban on Beaufort Sea drilling...
...Last week the space agency announced the award of $1.15 million contracts to Boeing and Lockheed for preliminary studies of a new rocket. Its purpose: to power an unmanned spacecraft that will intercept Halley's Comet as it sweeps around the sun. Known as the solar electric propulsion system, the engine could become the workhorse of deep space, carrying probes on far-flung missions across the solar system...
...crowd gasped, whipped through two flipflops, bearing all her weight on one hand. Nadia's courageous effort was good for a 9.95. The next day she returned to the hospital and surgeons operated on her hand to drain the infection. Understandably, Nadia looked grim all week. Said she: "I have nothing to smile about...