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Moreover, OPEC's buying power in recent months has been markedly strengthened by the sharp rise in the value of the dollar, the chief currency used in oil transactions. Rising interest rates and relatively rapid economic recovery in the U.S. have caused the dollar lately to leap ahead against every European currency; last week it traded for 2.67 German marks, the highest value in more than a year. Finally, the political alliance that OPEC is trying to forge with Third World countries is already showing signs of strain because of towering oil prices...

Author: /time Magazine | Title: OIL: OPEC'S Price Doves Win a Big One | 10/6/1975 | See Source »

Kipling, both Mason and Wilson agree, was a superb writer who, again like Hemingway, could make textures and smells-the very rhythms of life-leap off the page. Why, then, did he come closer to success in his short stories (for instance, The Man Who Would Be King) than in his novels (for instance, Captains Courageous)? Because, says Wilson, he could not conceal his true, tragic nature in the longer run. Mason concedes that Kipling's training and temperament put him into an almost impossible position as a writer: he was "an artist who must on no account betray...

Author: /time Magazine | Title: Books: The Light That Triumphed | 9/8/1975 | See Source »

...Ararat, Arlen set himself a near-Homeric task: the recovery of a forgotten people. To accomplish that mission he has performed a series of brilliancies: his research is irreproachable, his ear infallible. His writing retains a clarity and fury that animates each line. The tribes of the Bible leap from the page; the victims of mass murder speak out after decades of silence. Immigrants to the New World, exiles of the U.S.S.R., crack jokes at the devil and embrace the present with a gusto that belies their wretched past...

Author: /time Magazine | Title: Books: Voyage Home | 8/18/1975 | See Source »

Total decontrol would not necessarily bring an immediate leap in prices. Major oil companies that have large stocks of cheap domestic oil might well hold down prices temporarily in order to gain a competitive advantage over independents, such as Ashland and Amerada Hess, which must import expensive foreign oil. (The independents would suffer another penalty: the allocation program that forces the majors to share some domestic oil with them would expire along with the controls.) A delay in price boosts would be especially likely if Congress votes to tax away most of the "windfall" profits that oil companies would reap...

Author: /time Magazine | Title: ENERGY: A Result Nobody Wanted | 8/11/1975 | See Source »

...classical unities of time, place and action rigidly prescribed by 10th century Continental theorists (and not by Aristotle, as usually claimed). Many people need to be reminded that, even in the ancient Greek playwrights, one ode may indicate a long lapse of time. Pericles contains a similar 16 year leap of time; and Henry VI, Part One covers more than three decades...

Author: By Caldwell Titcomb, | Title: Leontes Damages The Winter's Tale' | 8/5/1975 | See Source »

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