Word: effectives
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...recent windfall has, for example, given Iran - OPEC's second-biggest oil producer - a cushion to neutralize the impact of Western sanctions over its nuclear program, and to ameliorate the effect of a struggling economy. But because Iran imports crucial refined diesel to keep its cars and factories running, it needs to sell its crude oil for $60 a barrel or more, according to oil analysts. So, President Mahmoud Ahmadinejad has plenty of incentive to push his OPEC colleagues to vote for production cuts: If falling prices force his government to cut its heavy gasoline subsidies, he won't help...
...barrel on Wednesday. That has prompted current OPEC president, Algerian Oil Minister Chakib Kjelil, to propose that the group cut up to 2 million barrels from its daily 32-million barrel output, hoping to push the price back up to about $90 a barrel. The effect would be to raise prices in the U.S. and Europe, just when Western leaders are scrambling to soften the landing of their slowing economies. OPEC's proposal, fumed British Prime Minister Gordon Brown last Friday, "is absolutely scandalous...
...sharp fall in demand which has helped send the price of their oil plunging. "This is not like the 1970s," says Chalabi. "OPEC has become a price-taker, not a price-maker." Still, if taking a couple of million barrels a day off the market has its desired effect, OPEC will once again be cast among the villains of the current economic downturn...
...soon be out of business. "In the past few weeks, lending has been getting tighter, not looser," says Larry Flick, a partner at law firm Blank Rome, which helps companies get financing. "All the moves the government is making to end the credit crisis may have a trickle-down effect, but I am not seeing...
...alcohol had a mutually seductive effect. "We had been flirting, so I leaned over and kissed her. The next thing I know, we're making out!" Gonzales says. Making out quickly turned into something more acrobatic - let's just say the pair made good use of the legroom between the rows. When the plane touched down in Chicago, Gonzales asked the Texan if she would accompany him to a hotel for a few hours before his connecting flight back to New York. The woman agreed on the condition that he stay the night. "I couldn't do that," Gonzales says...