The Uses And Types Of Busines Vocabulary Business Essay

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The drama over Europe's sovereign debt might seem good ammunition for American deficit hawks. Not so. As Barack Obama's bipartisan deficit commission held its first meeting on April 27th, the rising cost of government debt across southern Europe was, if anything, being used to draw a favourable contrast between the American and Greek fiscal positions.

Nevertheless, the American fiscal picture has darkened considerably, thanks to the recession. The projected 2010 deficit, of around 11% of GDP, contrasts with one of 1.2% as recently as 2007, while the net public debt has climbed from 36% to 64% of GDP. These figures look good beside those of Greece, where debt may touch 150% of output by the middle of the decade. There is still enough gloom, however, to trigger concern over the potential for rising interest rates and continued fiscal weakness as America's baby-boomers start to retire.

The good news is that the deficit is forecast to fall as the federal stimulus unwinds and growth returns. That alone should cut the gap to about 5% of GDP by mid-decade. The president's budget, released in February, aims to narrow the gap further still, to primary balance (where revenues equal spending less interest costs, which are around 3% of GDP). The overall deficit should narrow to 3.9% by 2015 via a three-year freeze on non-security discretionary spending, which accounts for about 15% of all spending. The last percentage point of deficit to be eliminated was left by the president to the deficit commission. Alan Simpson and Erskine Bowles, its joint chairmen, are being asked, in effect, to trim about $180 billion a year from the federal budget five years down the road.

The task has been sapped of some of its drama by recent budget revelations. Three weeks ago administration officials announced that the government was on track to run a deficit nearly $300 billion smaller than originally forecast for the first six months of the current fiscal year, thanks largely to higher tax receipts than expected.

Officials were careful to note that the performance might not continue for the rest of the year. Still, the news left a clear impression: deficit reduction may be easy. A week later, the Senate Budget Committee passed its 2011 budget resolution-a set of guidelines for the 2011 fiscal year-which achieves a 3% deficit by 2015. Should the full Senate pass the resolution and Congress's appropriators respect it, the commission's primary job will be done.

All well and good. But that still leaves the commission's second task-offering long-term budget recommendations. For it is the long run that looks truly grim. The deficit is forecast to start widening again by the end of the decade, and to deteriorate rapidly thereafter. By 2035 the Congressional Budget Office estimates that annual deficits, on current spending plans, would be close to 15% of GDP (bigger than Greece's now) while net public debt would exceed 180% of GDP (also more than Greece's). The ageing of the population accounts for some of the red ink, but much more stems from rising health costs.

So it is notable that Mr Obama convened the commission by declaring "everything" to be on the table. That includes, it was implied, the recent hard-won health-reform package, which contained frustratingly little in terms of cost control. Unfortunately it is on these rocky shoals that the commission is likely to run aground. The health debate clearly illustrated the vast ideological distance between the parties on the issue; and at least 14 of the commission's 18 members must agree on any proposal before it can be sent to Congress.

Commission members are therefore expected to press for tax reform or new revenue sources that might buy time for compromise. The hard choices will be put off, probably until a crisis forces the government's hand. That is a dangerous game to play. Just ask the Greeks.

Source: http://www.economist.com/world/united-states/displaystory.cfm?story_id=16015309, 29 April 2010.

Vocabulary list

A two-step: a fast dance that a man and woman do together

Sovereign: a sovereign nation rules itself, independent

Ammunition: facts or evidence that can be used against someone in an argument

Deficit: the difference between the amount of money or goods that a country or business has and the amount that it has spent or that it owes

A hawk: a politician who prefers using military force to more peaceful methods

Bipartisan: involving two political parties with different ideas or policies

A commission: a group of people that is officially put in charge of something or asked to find out about something

Favourable: giving someone or something an advantage or a benefit

Net public debt: the total amount of money owed by a country's government, that is left when there is nothing else to be subtracted

Gloom: the feeling of having no hope

To trigger concern: to cause someone to have a particular feeling; here: concern

Stimulus: anything that encourages something to happen, develop, or improve

Discretionary: based on someone's judgment of a particular situation rather than on a set of rules

to sap: to make something weaker, lose strength

tax receipt: the total amount of money that a business or organization receives in a particular period of time from taxes

a resolution: here: a set of guidelines for the 2011 fiscal year

grim: grim news, situations, or events are unpleasant and make you feel upset and worried

to deteriorate: to become worse

the ageing: the process of becoming old

to stem from: to be caused by something

to convene: to arrange a formal meeting, or to gather for a meeting

a shoal: a small hill on the bottom of the sea that can be dangerous for boats

to run aground: if a ship runs aground, it becomes stuck on a piece of ground under the water, where the water is not deep enough

ideological: based on, or relating to, an ideology;

an ideology: a system of ideas and principles on which a political or economic theory is based

Exercises

Translate from Dutch to English

Naar goeddunken, naar eigen oordeel: discretionary

Snelle dans: two-step

Commissie, comité: a commission

De bewijzen, argumenten waarmee men iets bestrijdt ammunition

Tekort, betalingsachterstand, nadelig saldo: deficit

Voorstander van een agressieve politiek: a hawk

Tweeledig: bipartisan

Gunstig, voordelig: favourable

Wanhoop, duisternis, hopeloosheid: gloom

Prikkel, aanmoediging: stimulus

Ongerustheid veroorzaken: to trigger concern

vast lopen: to run aground

Fill in the missing words

The task has been sapped of some of its drama by recent budget revelations.

A week later, the Senate Budget Committee passed its 2011 budget resolution -a set of guidelines for the 2011 fiscal year-which achieves a 3% deficit by 2015.

But that still leaves the commission's second task-offering long-term budget recommendations. For it is the long run that looks truly grim. The deficit is forecast to start widening again by the end of the decade, and to deteriorate rapidly thereafter.

The ageing of the population accounts for some of the red ink, but much more stems from rising health costs.

So it is notable that Mr Obama convened the commission by declaring "everything" to be on the table.

Unfortunately it is on these rocky shoals that the commission is likely to run aground.

The health debate clearly illustrated the vast ideological distance between the parties on the issue; and at least 14 of the commission's 18 members must agree on any proposal before it can be sent to Congress.

Find and correct the mistakes in each sentence

The drama over Europe's stimulus might seem good gloom for American deficit hawks.

Deficit  sovereign debt - ammunition

Barack Obama's bipartisan deficit resolution held its first meeting on April 27th.

commission

The rising cost of government debt across southern Europe was being used to draw a discretionary contrast between the American and Greek fiscal positions.

favourable

There is still enough grim, however, to trigger ammunition over the potential for rising interest rates and continued fiscal weakness as America's baby-boomers start to retire.

Gloom - concern

Fill in the right words next to their descriptions

A two - step… a fast dance that a man and woman do together

A commission… a group of people that is officially put in charge of something or asked to find out about something

The deficit……… the difference between the amount of money or goods that a country or business has and the amount that it has spent or that it owes

A hawk………… a politician who prefers using military force to more peaceful methods

bipartisan…… involving two political parties with different ideas or policies

favourable…… giving someone or something an advantage or a benefit

gloom the feeling of having no hope

to trigger (concern) to cause someone to have a particular feeling; here: concern

stimulus………… anything that encourages something to happen, develop, or improve

discretionary…… based on someone's judgment of a particular situation rather than on a set of rules

to sap………… to make something weaker, lose strength

the tax receipts the total amount of money that a business or organization receives in a particular period of time from taxes

a resolution… a set of guidelines for the 2011 fiscal year

grim………… unpleasant, it makes you feel upset and worried

to deteriorate… to become worse

to stem from…… to be caused by something

to convene… to arrange a formal meeting, or to gather for a meeting

a shoal………… a small hill on the bottom of the sea that can be dangerous for boats

Article 2: The U.S. Trade Gap Won't Go Away

After shrinking in the recession, it's back up, with imports outpacing exports-and it "doesn't seem to be a problem that's self-correcting" By Peter Coy

The U.S. trade deficit shrank like a puddle in the hot sun in 2008 and 2009 as appetite for imports melted in the recession and Asian export markets grew. With the U.S. economy now improving, the gap is widening again, dashing hopes that the U.S. is anywhere close to rebalancing trade with the rest of the world.

On Apr. 30 the Commerce Dept. announced that the economy grew at an estimated annual rate of 3.2 percent in the first three months of the year, propelled by stronger consumer spending and business investment. The bad news is that a lot of that consumption and investment went for imports. While exports grew at a 5.8 percent rate, imports grew at an annual rate of 8.9 percent. Overall, the trade deficit nicked 0.6 percentage points from the growth rate.

The broadest measure of the trade deficit peaked in 2006 at just over $800 billion, or 6 percent of gross domestic product. (These numbers describe the current account, which includes trade in goods and services as well as cross-border investment income.) By 2009 it was a little more than $400 billion, just under 3 percent of GDP. But by the second half of 2009, the gap had already come off its bottom-rising 18 percent from the second to the fourth quarter. "We would expect [the trade deficit] to grow a little bit faster than the overall economy," says Ethan Harris, chief economist at Bank of America Merrill Lynch (BAC).

The quick resurgence shows that the recession didn't reduce U.S. overdependence on imports; by permanently closing many factories, it probably helped hollow out the U.S. economy, making it harder to balance trade. As General Electric (GE) Chief Executive Officer Jeffrey Immelt said in a recent speech, China is likely to surpass the U.S. in manufacturing output in the next few years. "In Reagan's time, America was the world's biggest exporter by far," said Immelt. "Today, we're fourth."

Growth Handicap

The problem with a big trade deficit is that it adds to the debt of the U.S., already the world's biggest borrower. It also saps growth, because U.S. consumer demand is being met by foreign rather than domestic production. "Americans won't have jobs," says Peter Morici, a University of Maryland economist.

Industrial America's plight can be encapsulated in a few incredible numbers. According to the Bureau of Labor Statistics, U.S. employment in manufacturing over the past six months has been the lowest since March 1941, before the U.S. entered World War II. The March total was a little under 11.6 million workers, down 19 percent in just the past five years. Productivity advances account for some job reductions, but that's not the whole story: Manufacturing's share of GDP shrank from 25 percent in the 1960s to 15 percent in 2000 and just 11 percent in 2008, according to data from the Commerce Dept.'s Bureau of Economic Analysis.

Many of the most powerful U.S. manufacturers produce their goods for foreign customers in overseas locales, which does nothing to shrink the trade deficit. General Motors is going gangbusters in China, where it announced that it's on track to reach its target of 2 million annual vehicle sales four years ahead of schedule. Most of those GM cars, however, are made in the mainland. Likewise, Eaton (ETN), the Cleveland-based equipment maker, gets 55 percent of its sales outside the U.S. Spokeswoman Kelly Jasko says, "Our philosophy is to manufacture in the zone of currency."

Exports' Rise Surpassed by Imports'

True, manufacturing is rebounding from its recession trough, and exports are growing. They rose 14 percent in the 12 months through February. David Huether, chief economist at the National Association of Manufacturers, says "the idea that we don't have the capacity to sell product overseas is off base" and predicts that trade is "going to be one of the durable bright spots for the next [few] years." Exports of scrap iron and steel have more than doubled from 2005 to 2009, with more than one-third going to China. On Apr. 26, Caterpillar (CAT) announced a swing to a first-quarter profit from a year-earlier loss thanks to improved conditions, "particularly in the developing economies."

Still, brisk growth in China, India, and other Asian nations isn't triggering purchases of U.S. goods as strongly as it might. That's because much of the growth in Asian trade is within the region, says Frederic Neumann, co-head of Asian economics research for HSBC (HBC) in Hong Kong. Europe, a more receptive market for the U.S., is weak.

Rising imports are the other culprit. Imports for the 12 months through February grew faster than exports, increasing 21 percent. In the first two months of 2010, the U.S. bought nearly $15 billion worth of advanced technology products such as computers from China, but sold China only $3 billion in high-tech goods, according to Commerce data.

Higher oil prices exacerbate the U.S. trade deficit. Yet even in volume, U.S. imports of all goods will grow nearly as much as exports this year, estimates Michael Englund, chief economist of Action Economics in Boulder, Colo. He concludes: "This [trade deficit] doesn't seem to be a problem that's entirely self-correcting."

The bottom line A large economy like the U.S. needs a manufacturing base to be an export power. That source of strength seems to be fading.

Source: http://www.businessweek.com/magazine/content/10_20/b4178011467068.htm, 5 May 5 2010.

Vocabulary list

To outpace: to make more progress, increase more quickly, or become more successful than something else

To dash someone's hopes: to make it impossible for someone to do what they hoped to do

To propel: to move or push something forward

To nick: to cut slightly

Cross-border: going across a border between two (or more) countries

Resurgence: the start of something again that quickly increases in influence, effect etc

To hollow out: to make a hole in something by removing what is inside it

To surpass: to be better or greater than something else

A plight: a sad, serious, or difficult situation

To encapsulate: to express something in a short clear form that gives the most important facts or ideas

To go gangbusters: to become extremely successful

To be on track to: to do something that is likely to be successful or correct

Currency: the state of being approved of or used by many people in a society

To rebound: to return to a better level or position

A bright spot: something that is good when everything else seems bad

A scrap iron: old metal that can be used again after going through a special process

A swing: a change from one emotion, idea, condition etc

A brisk growth: a quick growth

Receptive: willing to listen or to consider suggestions

A culprit: the cause of something bad happening

To exacerbate: to make a problem become worse

Exercises

Translate from Dutch to English

Voorbijstreven, overtreffen: to outpace……………

Iemands hoop de bodem inslaan: to dash someone's hopes……………………

Aanzetten, stimuleren: to propel…………………

Insnijden: to nick…………………

Heropleving: resurgence………………

Boosdoener: a culprit……………

Verergeren, verslechteren: to exacerbate…………

Hard van stapel lopen, zeer succesvol geworden zijn: to go gangbusters…

Samenvatten: to encapsulate…………

Terugkaatsen, terugwerken: to rebound……………

Geldendheid: currency………………

Open(staand), vatbaar: receptive……………

Volt, levendig, kordaat: brisk……………

Fill in the missing words

As General Electric (GE) Chief Executive Officer Jeffrey Immelt said in a recent speech, China is likely to …….. the U.S. in manufacturing output in the next few years.

surpass

We're right ….. to create two million new jobs. On track

Industrial America's ……… can be ……. in a few incredible numbers. Plight - encapsulated

On Apr. 26, Caterpillar (CAT) announced a …… to a first-quarter profit from a year-earlier loss thanks to improved conditions, "particularly in the developing economies." swing

The workload is bigger than ever, and technology seems to be the main …... culprit

The committee got off to a …….. start at its first meeting. brisk

The amphitheatre had been …. of the steep hillside. Hollowed out

Find and correct the mistakes

True, manufacturing is surpassing from its recession trough, and exports are growing. They rose 14 percent in the 12 months through February. David Huether, chief economist at the National Association of Manufacturers, says "the idea that we don't have the capacity to sell product overseas is off base" and predicts that trade is "going to be one of the durable swings for the next [few] years." Exports of brisk and steel have more than doubled from 2005 to 2009, with more than one-third going to China.

Rebounding bright spots scrap iron

Still, bright spots in China, India, and other Asian nations aren't triggering purchases of U.S. goods as strongly as it might. That's because much of the growth in Asian trade is within the region, says Frederic Neumann, co-head of Asian economics research for HSBC (HBC) in Hong Kong. Europe, a more rebounding market for the U.S., is weak.

Brisk growth isn't receptive

Rising imports are the other gangbuster. Imports for the 12 months through February grew faster than exports, increasing 21 percent.

culprit

Higher oil prices encapsulated the U.S. trade deficit. Yet even in volume, U.S. imports of all goods will grow nearly as much as exports this year, estimates Michael Englund, chief economist of Action Economics in Boulder, Colo.

exacerbated

Combine the words with their synonyms

To get ahead a swing

To beat to exacerbate

To aggravate, to worsen a scrap

Cross-border To recover, to catch up

A plight Broad-minded

To rebound Cause

A culprit To disappoint, to let down

Receptive Frontier

To dash someone's hopes Trouble, crise

A turnabout to surpass

Remains, waste to propel

Article 3: The Paradox of Deep Water: Lots of Oil, Lots of Danger

The ability to extract oil in hard-to-reach places has zoomed ahead. Disaster preparation has not

On May 7, in a darkened room called the hive at BP's command center in suburban Houston, technicians were closely watching video feeds from the oil company's underwater robotic vehicles. They showed a 40-foot-tall concrete-and-steel device called a container dome being carefully lowered into the depths of the Gulf of Mexico. BP executives had great hopes the dome could help siphon off most of the oil from its ruptured well that was spewing an estimated 5,000 barrels of oil each day into the Gulf. The device soon proved to be a bust. Said BP Chief Executive Officer Tony Hayward: "There is an enormous amount of learning going on here, because we are doing it for real [for] the first time."

Oil executives like Hayward had better get used to a steep learning curve. While the magnitude of the BP spill has captured headlines, the operation that precipitated the disaster wasn't out of the ordinary. Operating in deep water has become a major focus of oil companies, thanks to big undersea deposits, drilling advances, and the willingness of nations such as Brazil and the U.S. to allow rigs off their shores. While drilling at depths of 5,000 feet or more was almost unheard-of 20 years ago, about 6 percent of world oil production now comes from deepwater wells. And that is set to double over the next 20 years, according to Peter Jackson, an analyst at IHS CERA.

Indeed, 6 of the world's 10 largest discoveries in the last two years have been in deep water, believed to be home to much of the remaining large energy deposits outside the Middle East. Deep water is crucial to production in the U.S., where it accounts for more than 50 percent of offshore output and about one-quarter of overall production.

"There is going to be subsea exploration because there has to be," says General Electric CEO Jeffrey Immelt. "If it doesn't happen here it is going to happen off the coast of Angola, the coast of Brazil, other places around the world."

Unprepared Industry

As the BP accident shows, the oil industry is not fully prepared for this new reality. Over the last 30 years, BP and other companies have pushed into deeper and deeper water with remarkably few serious incidents. The Macondo well on which the BP-leased Deepwater Horizon rig encountered disaster on Apr. 20 was in 5,000 feet of water, now a normal operating environment for BP and other oil giants. Italy's ENI for instance, operates a field in similarly deep water just miles from BP's troubled project with no problem.

While this benign track record may not have lulled the companies into complacency, they have never before been forced to face up to how difficult it might be to deal with an accident on the sea bottom at depths of a mile or more. "The industry has drilled over 5,000 wells in greater than 1,000 feet of water and has not hitherto had an issue of this sort to contend with," says Hayward. "You can have all sorts of theoretical capability available, but until you actually get to use it in anger, it's difficult to figure out what is necessary."

Perhaps that's because the technology of deepwater drilling has also outstripped the methods of cleaning up a potential mess when things go wrong. BP and its fellow oil majors have spent tens of millions on seismic techniques for acquiring data under the salt layers often found in deep water and on the supercomputers and scientists needed to analyze the results. But the company's response when things went awry, at least to this spill, has been surprisingly old school. BP has ordered up a flotilla of skimmer ships, launched an air force of planes to drop chemical dispersants onto the expanding slick, dispatched 1.2 million feet of boom barriers to trap floating oil, and employed an army of beach and swamp cleaners. None of this activity addresses the key issue: how to stop the continued leaking of oil.

"As the industry goes further offshore, the level of investment in research has to be comparable for cleanup as for exploration," says J. Robinson West, chairman of Washington-based consultants PFC Energy.

More Oversight

It's become clear that the industry has no surefire way of dealing with problems on the sea bottom a mile below the surface. That's one reason some environmentalists are already arguing that deepwater drilling should be banned outright. "Disaster response plans are totally inadequate," says Athan Manuel, lands protection director at the Sierra Club. "There is no such thing as safe offshore drilling."

Still, with global energy demand estimated to grow by up to 18 percent in the next 10 years, energy producers will have no choice but to exploit oil deposits under thousands of feet of water, says Robert Fryklund, vice-president for industry relations at consulting firm IHS.

That's why the Macondo mess may lead to stiffer requirements designed to reduce the likelihood of future accidents rather than a drastic reduction of offshore activity. On May 11, Energy Secretary Ken Salazar announced moves to toughen inspections and oversight of offshore drilling rigs. The Obama Administration had already announced a 30-day moratorium on new drilling permits and that it would separate the safety operations of the federal Minerals Management Service from its royalties and leasing functions.

The Administration hasn't publicly backed away from offshore drilling. That stand will be put to the test as congressional hearings continue into safety procedures used by oil companies-or if the growing spill begins to foul the U.S. coastline rather than just the sea itself. "This will always be a risky industry," says John Hofmeister, a former president of Royal Dutch Shell's (RDS.A) U.S. business. "There is going to be constant scrutiny of how much risk for how much gain."

The bottom line Oil companies like BP have plenty of experience drilling in deep water. They're still relative newcomers on dealing with disaster.

Source: http://www.businessweek.com/magazine/content/10_21/b4179017397376_page_2.htm, 13 May 2010.

Vocabulary list

A dome container: a container shaped like the top half of a ball

To siphon off: to move liquid from one container to another through a tube

To rupture: if an organ or object ruptures, or if you rupture it, it bursts or tears suddenly

A well: a deep hole dug in the ground where there is a supply of oil or gas

To spew: to flow out with a lot of force, or to make something do this

A bust: a complete failure

To capture the headlines: to be the main story in the news

To precipitate: to make something happen or begin to exist suddenly and quickly, especially something bad

A deposit: a layer of a substance that gradually forms on or inside something

A rig: a tall structure fitted with equipment for getting oil or gas out of the ground or from under the bottom of the sea

Offshore: in the sea, not on the land. This word is used especially for talking about the oil industry

An exploration: a journey to a place to learn about it or to search for something valuable such as oil

To lease: to have a legal agreement in which someone pays you money to use a building, land, or equipment belonging to you for a specific period of time

Benign: kind and nice

To lull: to make someone feel relaxed or confident so that they are not prepared for anything unpleasant

Complacency: a complacent attitude or way of behaving

Complacent: too confident and relaxed because you think you can deal with something easily, even though this may not be true

Hitherto: until the present time

To outstrip: to go faster or do something better than someone else

Seismic: causing a very great change in a situation

To go awry: to not happen in the way that was hoped or planned

A flotilla: a group of small boats or ships

To skim: to remove a substance that is floating on the surface of a liquid

To disperse: to spread, or to make things spread, in different directions over a wide area

Surefire: certain to be successful

Outright: used for emphasizing that something happens or is done completely at one time or in a single process

To exploit: to use natural resources such as trees, water, or oil so that you gain as much as possible

The likelihood: the chance that something might happen

To toughen: to become more strict, or to make something more strict

A moratorium: an official agreement to stop an activity temporarily

To back away: to gradually become less involved in something

A scrutiny: careful examination of someone or something

Exercises

Translate from Dutch to English

Een flop: a bust

Een put: a well

Neerstorten, neerwerpen: to precipitate

Tuig, takelage: a rig

Sliblaag: a deposit

Scheuren, breken: to rupture

Overtappen: to siphon off

Onderzoek, expeditie: an exploration

Verpachten: to lease

Minzaam, gunstig: benign

Vloot: a flotilla

Afscheppen: to skim

Misgaan, mislukken: to go awry

Fill in the missing words

These results are good, but we cannot afford to be …….. complacent

Energy producers will have no choice but to ….. oil deposits under thousands of feet of water.

?  exploit

That's one reason some environmentalists are already arguing that deepwater drilling should be banned …..

outright

Demand for organic food was …….. supply. Outstripped

While the magnitude of the BP spill has ….. headlines, the operation that precipitated the disaster wasn't out of the ordinary. captured

Operating in deep water has become a major focus of oil companies, thanks to big undersea ……….., drilling advances, and the willingness of nations such as Brazil and the U.S. to allow ……… off their shores.

Deposits, siphon  rigs

BP and its fellow oil majors have spent tens of millions on ………… techniques for acquiring data under the salt layers often found in deep water and on the supercomputers and scientists needed to analyze the results.

Seismic

Find and correct the mistakes

Deep water is crucial to production in the U.S., where it accounts for more than 50 percent of benign output and about one-quarter of overall production.

Offshore

"There is going to be subsea flotilla because there has to be," says General Electric CEO Jeffrey Immelt.

Examination  exploration

Over the last 30 years, BP and other companies have pushed into deeper and deeper water with remarkably few serious incidents. The Macondo well on which the BP-lulled Deepwater Horizon rig encountered disaster on Apr. 20 was in 5,000 feet of water, now a normal operating environment for BP and other oil giants.

BP-leased

While this rig track record may not have lulled the companies into scrutiny, they have never before been forced to face up to how difficult it might be to deal with an accident on the sea bottom at depths of a mile or more.

Complacency

The Administration hasn't publicly spewed from offshore drilling.

Backed away

But the company's response when things went skim, at least to this spill, has been surprisingly old school. BP has ordered up a deposit of skimmer ships, launched an air force of planes to drop chemical dispersants onto the expanding slick, dispatched 1.2 million feet of boom barriers to trap floating oil, and employed an army of beach and swamp cleaners.

Awry - flotilla

Fill in the right words next to their descriptions

A moratorium an official agreement to stop an activity temporarily

To back away to gradually become less involved in something

To lull: to make someone feel relaxed or confident so that they are not prepared for anything unpleasant

Complacent: too confident and relaxed because you think you can deal with something easily, even though this may not be true

To out  to outstrip to go faster or do something better than someone else

A bust a complete failure

To precipitate to make something happen or begin to exist suddenly and quickly, especially something bad

An examination  an exploration: a journey to a place to learn about it or to search for something valuable such as oil

Benign: kind and nice

Seismic: causing a very great change in a situation

To go awry: to not happen in the way that was hoped or planned

To presist  to disperse to spread, or to make things spread, in different directions over a wide area

Firesure  Surefire certain to be successful

To exploit: to use natural resources such as trees, water, or oil so that you gain as much as possible

Mixed exercises

Translate from Dutch to English

Voorbijstreven, overtreffen: to surpass

Iemands hoop de bodem inslaan: to dash someone's hopes

Terugkaatsen, terugwerken: to rebound

Geldendheid: currency

Open(staand), vatbaar: receptive

Volt, levendig, kordaat: brisk

Naar goeddunken, naar eigen oordeel: discretionary

Snelle dans: a two-step

Aanzetten, stimuleren: to propel

Insnijden: to nick

Heropleving: a resurgence

Boosdoener: a culprit

Verergeren, verslechteren: to deteriorate

Hard van stapel lopen, zeer succesvol geworden zijn: to go gangbusters

Samenvatten: to encapsulate

Commissie, comité: a commission

Gunstig, voordelig: favourable

Wanhoop, duisternis, hopeloosheid: gloom

Prikkel, aanmoediging: stimulus

Ongerustheid veroorzaken: to trigger concern

vast lopen: to run aground

De bewijzen, argumenten waarmee men iets bestrijdt ammunition

Tekort, betalingsachterstand, nadelig saldo: deficit

Voorstander van een agressieve politiek: a hawk

Tweeledig: bipartisan

Sliblaag: deposit

Scheuren, breken: to rupture

Overtappen: to siphon off

Onderzoek, expeditie: an expedition

Verpachten: to lease

Minzaam, gunstig: benign

Vloot: a flotilla

Fill in the missing words

Energy producers will have no choice but to ….. oil deposits under thousands of feet of water.

exploit

Operating in deep water has become a major focus of oil companies, thanks to big undersea ……….., drilling advances, and the willingness of nations such as Brazil and the U.S. to allow ……… off their shores.

deposits

rigs

Fill in the right words next to their descriptions

To outpace to go faster or do something better than someone else

A bust a complete failure

To precipitate to make something happen or begin to exist suddenly and quickly, especially something bad

An exploration a journey to a place to learn about it or to search for something valuable such as oil

seismic causing a very great change in a situation

to dash someone's hopes to not happen in the way that was hoped or planned

to disperse to spread, or to make things spread, in different directions over a wide area

surefire: certain to be successful

discretionary: based on someone's judgment of a particular situation rather than on a set of rules

to sap to make something weaker, lose strength

tax receipts the total amount of money that a business or organization receives in a particular period of time from taxes

a resolution a set of guidelines for the 2011 fiscal year

grim unpleasant, it makes you feel upset and worried

to deteriorate to become worse

to stem from to be caused by something

to convene: to arrange a formal meeting, or to gather for a meeting

a shoal a small hill on the bottom of the sea that can be dangerous for boats

Find and correct the mistakes

Barack Obama's bipartisan deficit resolution held its first meeting on April 27th.

Commission

"There is going to be subsea flotilla because there has to be," says General Electric CEO Jeffrey Immelt.

Exploration

Personal reflection

I think this was a very useful sample. To my mind, it is always advantageous to read business articles, because you get to know the business vocabulary. However, it was rather difficult to find the right articles. For example: my last article is a business article, but there are not many business terms used; it hardly deals with anything else but 'oil terms'. Of course, these are words that I will not be using a lot in my future job as a management assistant. In addition, the last article was also hard to understand because of the oil-terms and it is anyhow a complex subject.

As far as the mixed exercises are concerned, I think I underestimated it a little bit. Before I made the exercises, I first had to reread the articles and vocabulary lists briefly, otherwise it almost would have been impossible for me to fill in the exercises correctly. As regards that aspect, it was more difficult than I thought it would be. On the other hand, it is normal that when you study new vocabulary, you have to revise it in time.

Having finished this sample, I do not really know if I would recommend it to my fellow students, because I think it is very hard to remember the difficult vocabulary, if you are not faced with it daily.

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