Word: majority
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Dates: during 1980-1980
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...American economy was sent reeling when the Organization of Petroleum Exporting Countries [OPEC] hiked the price of crude oil to over $20 per barrel--the second major increase in less than a decade. The dollar plummeted on the exchange market; inflation spiralled upwards. The evening news carried stories of record setting gas lines as motorists jockeyed for position to purchase gasoline at over $1 a gallon. And, as the winter approached, homeowners watched anxiously as the average price of home heating oil rose from 53.7 cents to 90.8 cents in January of 1980, an increase of about 170 per cent...
...major oil companies contended they were at the mercy of OPEC. But the year between the first quarter of 1979 and the first quarter of 1980, Occidental's profits increased 236 per cent, Mobil's rose 105 per cent, and Exxon's jumped a tidy 102 per cent. Poor Gulf could only boast of a 56 per cent profit increase...
...warrant expanding to other states, CEC has been unable to find an oil producing country willing to sell them the additional oil. And the shortages caused by the Iran-Iraq war has strained currently available supplies, making CEC--already completely dependent on Venezuela--vulnerable to interference from a major oil company...
...majority of the State Department transition team, however, oppose the proposal--which would involve what was described as a major restructuring of the department's hierarchy, Robert G. Neumann, the leader of the team, said last night...
...major issues in the talks are salaries and job security. The University has offered a 28-per-cent pay raise, while the union is demanding about "something closer to 30 per cent" over the next three years, d'Errico said. In addition, the union wants faculty members who work less than half-time to be paid for half-time work, he added...