Word: worldlys
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Dates: during 1970-1979
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...world's most gerontocratic elites is getting older rather than younger. Meeting in Moscow last week, the Central Committee of the Soviet Communist Party elevated First Deputy Premier Nikolai Tikhonov, 74, from alternate to full membership in the Politburo, thereby raising the average age of that 14-member body from 69.3 to 69.6 years...
...rising price has already forced the oil-importing developing nations to pile up a staggering $300 billion in foreign debts, and some Third World countries are close to bankruptcy. A few big defaults could severely shake the international banking system. As poignant testimony to the squeeze on all the developing countries, Sri Lanka is now begging for mercy from the OPEC price pinch. In a government-sponsored petition that President Junius Jayawardene hopes will be signed by 3 million of his nation's 14.5 million citizens, the island republic pleads plaintively that the cartel grant special concessionary prices...
...stiff rise from the current official maximum of $23.50 per bbl. now seems increasingly likely when the cartel meets in Caracas on Dec. 17. So too do market-tightening cutbacks by a number of cartel members eager to keep oil prices high even as the world economy slows...
Like an aging heavyweight gone to flab, U.S. industry has fallen behind some of its world-class competitors. Many steel, rubber, auto and other essential plants have become outmoded because not enough capital has been invested in them. If the nation is to restore its technological edge, U.S. industry will have to modernize by building new factories and closing inefficient plants...
...unconventional" sources of energy that are not yet economical to tap but will become increasingly feasible -and necessary-as oil prices rise. The basic sources are heavy bitumen oil and the tar sands, which together could provide as much as 320 billion bbl., or enough to supply the entire world demand for some 15 years at current rates...