Word: preciously
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Threats to precious crude...
Whenever the 13 members of the Organization of Petroleum Exporting Countries get together, two things seem certain: they will bicker vociferously among themselves, and then they will raise the price of their precious crude. That is precisely what happened at the OPEC oil ministers' 57th meeting last week at the El Aurassi hotel in Algiers. After lavish feasting on caviar and couscous, the oil ministers argued until 3 a.m. but then reached a compromise that allowed some of them to push the price of oil still higher. The 13 countries decided to set a price ceiling...
...million bbl. in 1985. If this view is accurate, the Soviet Union will soon have to halt its lucrative oil exports, including 129 million bbl. to such Western nations as Italy, West Germany and Austria. Last year petroleum was the largest Soviet export, with about $6 billion in precious foreign exchange coming from Western Europe alone. An end to oil exports, moreover, would weaken the political and economic hegemony the Soviets have over their East bloc satellites and Cuba, which are heavily dependent on Soviet petroleum supplies...
...Moscow schoolteacher, who vacations in the suburbs. "Our dacha also needs a new roof, so my husband bangs and works all day while I cook meals on a hotplate and fight mosquitoes." Many vacationers relish swapping tales of the challenges of their rustic lives. But give up those precious days in the country? Nyet...
...known in two weeks, there is no way to get a fiscal 1981 balanced budget. The revenues will not be there to equal Government spending. We are going through an extraordinary charade in the budget process, which I'm terribly concerned about. We are eating up very precious political capital on the question of budget balancing. This is surely an exercise in utter futility. As soon as it becomes clearly impossible to balance the budget, that is going to be read as carte blanche to a number of people who want to add new expenditure programs and go full...