Word: petroleum
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Dates: during 1980-1989
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...Shawcross does not allow the reader to forget that Mohammed Reza Pahlavi, the late Shah of Iran, was a pathetic symbol of a corrupt and repressive regime. His fate was to be thrust, ill-suited by temperament or training, into the leadership of a nation whose strategic geography and petroleum resources dictated a major role in the 20th century. Publicly he professed a grand vision, a White Revolution that would modernize his nation. Privately he played the Oriental potentate, surrounded by toadies, pimps and the kitschy trappings of new wealth...
Falling temperatures usually boost the spirits of oil producers. As energy users in the Northern Hemisphere stoke their furnaces and fill up their oil tanks, demand for fuel begins climbing toward its annual peak. For members of the Organization of Petroleum Exporting Countries, who supply 40% of the world's crude, the season should be one of relative harmony. But not this year. The group is in the throes of an oil-pumping free-for-all that has sent prices tumbling to levels not seen in more than two years...
...remain at that level for the next six months. That would mean a repeat by next spring of the oil-market collapse of early 1986, when OPEC overproduction sent prices crashing to less than $10 per bbl. While cheap energy helps most Western economies by lowering inflation, petroleum at prices below $10 or $12 per bbl. is a painful prospect for such indebted oil producers as Algeria and Mexico and the weakened U.S. energy belt...
...than $100 million. The government said 900 people were ! arrested, and without disclosing figures admitted that people on both sides were killed during battles between protesters and security forces. Whatever the toll, the outburst jolted Bendjedid's ten-year-old regime, which has sought to revive the country's petroleum-depressed economy with an austerity program that included cuts in subsidies for food and other commodities. The result has been sharply rising prices: a pound of beef now costs about $12. With popular discontent still unaddressed, the outlook could well be for further unrest...
However the transfer of property has been held up because the the church is still responsible for cleaning lead, arsenic and petroleum residues found on the lot in September...