Word: marketed
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Dates: during 1980-1980
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Though research on extracting kerogen from marl began in the 1920s, shale oil went undeveloped because its production cost always exceeded the market price of crude. Promises still outpace production, but during the past few years Occidental Petroleum, Atlantic Richfield and Union Oil have spent millions experimenting with shale-oil extraction in Colorado's Piceance Basin. Occidental Chairman Armand Hammer believes that his company will be able to begin commercial production by 1985, keeping costs below $25 per bbl. Today other companies are digging mines near Grand Junction and Rangely, Colo., and Vernal, Utah. Exxon is the most enthusiastic...
...beef market has not kept pace with inflation over the past several years, despite what those who buy steak at more than $3 per lb. might think. While his choice steers brought 80? per lb. last year, Hanson expects to get only about 71? per lb. this year...
...Kania can keep the Soviets calm, the West is poised to help with loans and other aid. The Common Market nations agreed last week to make available surplus beef and butter at discount prices, provided Poland asks for them. It was a fairly timid gesture designed not to offend the Soviets, but it could be a very wel come one to Poland if severe food shortages develop this winter...
...barons. A few also teach the players something about business. Alan Teck, director of Chemical Bank's financial consulting services, developed the hot-selling Foreign Exchange ($15), in which players work through the arcane world of international finance. He is now developing an other game involving the gold market. Stocks and Bonds ($13) initiates players in the workings of Wall Street, and Limit Up (at $49.95, one of the most expensive of the games) shows potential Bunker Hunts the mysteries of trading silver and other commodities...
Jumping interest rates are definitely pushing potential customers out of the market. Last year a new car buyer in Michigan would have paid an average 12.68% interest for a 48-month new car loan. Now the interest rate is 16.05%. That can add as much as $50 to a car payment every month. Says Detroit Ford Dealer Mel Farr: "People want to buy cars, but they can't because of the basic high cost and the interest rates. Showroom traffic has just died. It is really depressing...