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Dates: during 1970-1979
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Usage:

...about the future of OPEC. While its members' separate price rises will cause immediate pain to the rest of the world, they also present an opportunity for oil-importing nations to counter OPEC by cutting demand. Market forces, the law of supply and demand, will have a much bigger influence than before...

Author: /time Magazine | Title: Business: OPEC Fails to Make a Fix | 12/31/1979 | See Source »

...active in Labor Party politics, on the side all his well-to-do friends detest. He thinks he is rekindling the socialist torch he carried when young, but his wife Clare scalds him: "You're addicted to your own self-importance and like a real junkie you need bigger and bigger doses to keep going." Strickland also becomes embroiled in an affair with an enormously rich young woman and realizes, belatedly, that she thinks he will break up his home for her. He argues to himself that her impression never came from him: "He might have had daydreams...

Author: /time Magazine | Title: Books: Private Acts | 12/31/1979 | See Source »

...Alice-in-Wonderland world of the oil game, some observers argued that the rises were welcome, on the theory that they might somehow manage to forestall even bigger OPEC money grabs in the days ahead. By bringing its charges up to the $24 level, where much of the rest of OPEC has been for months, Saudi Arabia is attempting to return order and stability to the cartel's chaotic price structure as well as head off demands in Caracas for much steeper hikes by such cartel radicals as Iran, Libya and Nigeria. Said Saudi Oil Minister Ahmed Zaki Yamani...

Author: /time Magazine | Title: Business: Another Oil Price Stunner | 12/24/1979 | See Source »

...expensive. Prices of water buffaloes, which do not consume diesel fuel but do produce free fertilizer, have soared. Some Thai officials are rather relieved that their bureaucratic bungling has stalled the pace of industrialization. Says one official: "If we had been more successful, Thailand would be in much bigger trouble today...

Author: /time Magazine | Title: Business: The Poor Suffer the Most | 12/24/1979 | See Source »

...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 would have formed at Exxon, Mobil and Texaco gasoline stations, as well as at those of Chevron, the retailing outlet for Socal...

Author: /time Magazine | Title: Business: Aramco's Stormy Petrol | 12/24/1979 | See Source »

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