During his 40 years at Texas Instruments, Mr. Shepherd helped turn the company from a niche outfit catering to the needs of oil and gas companies into an electronics pioneer, producing goods for both businesses and consumers.
Moreover, since oil reserves are normally extracted in the order of ascending cost and descending quality, excessive consumption of relatively high-quality, cheap oil reserves by the current generation raises the cost at which future generations can meet their needs of oil and hence imposes an external cost on the future generations.
An I.M.F report in May said the external financing needs of oil-importing Middle East and North African countries would exceed $160 billion over the next three years.
Yet the price of oil ended up being far more sensitive to the demand side of the equation i.e. the needs of oils consumers and speculators than the supply side.
The world around them turned, grinding and screeching, as if in need of oil.
My legs jerked, pedaling robotically, like the stiff Tin Man in need of oil: stop, start, stop, start.
As the world's largest oil producer and second largest exporter, Russia is in no need of oil supplies from the Arab world.
A pair of kestrels has been using the railing of my terrace as an observation tower, announcing their presence with cries that sound like a wagon wheel in desperate need of oil.
When agitated or offended, Hugh breaks the offender's little finger, and under stress is aware of "sparks in my long muscles and a click in my head like a catching latch in need of oil".
Among them, the women -- four in their mid-40's and one just past 50 -- had five husbands and 15 children back in Darien and Greenwich, not to mention aging parents and S.U.V.'s in need of oil changes, but the talk around the card table this day was of trumps, tricks and doubletons, not domesticity.
The new collector has the advantages to minimize necessary staff time for sampling by easy and fast changes of sample bottles, to avoid any need of oil for prevention of evaporation, to be cheap in construction, and to be easily installed and used in remote areas (unattended during 1 month).
