Word: alaska
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Dates: during 1980-1989
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...Then last week Texaco confirmed the existence of a major oilfield by announcing crude flows from an 8,500-ft. well. Experts now say that the Santa Maria basin could be the biggest single find in the U.S. since 1968, when reserves were discovered on the North Slope of Alaska that have now been estimated at 9.5 billion...
...California offshore oil could turn out to be quite profitable because it will cost less to produce than Alaskan crude. Moreover, refineries and transportation networks are close by, a formidable advantage when one considers that Prudhoe Bay oil from Alaska must be pumped through 800 miles of pipeline and then shipped 1,000 miles by tanker to reach the nearest customers. Says Oil Consultant Walter Levy: "The fact that the oil companies don't have to spend $8 billion for an Alaskan pipeline is a major advantage." Also, not having to contend with bitter Arctic weather will make...
...gold Rolex, word was given to its Swiss makers, and before long the watch found its way to his thick wrist. Gerald Ford remembers how, on his way to Vladivostok for a meeting on strategic arms limitations in 1974, he was given a wolfskin coat during a stop in Alaska. When Ford stepped off Air Force One in the frozen remoteness of Vladivostok, a waiting Brezhnev immediately spied the coat. He pulled it off the President, tried it on and walked away with it at the end of the talks after jamming a fur hat down over Ford...
Legal experts were scratching their heads last week over a startling decision by an obscure but respected 82-year-old U.S. district court judge in Wyoming: the windfall profits tax on oil is unconstitutional. The problem, wrote Judge Ewing Kerr, is that the legislation says that "one state, Alaska, is not subject to the same tax at the same rate as all the other states. This is a clear violation of the constitutional requirement of uniformity." The ruling, which came in a suit brought by the Independent Petroleum Association of America and other oilmen, could force the U.S. Treasury...
...Democratic successes were most obvious in Governor's races. Stressing Republican responsibility for the recession, Democrats won seats from retiring Republicans in Minnesota, Michigan, Wisconsin, Alaska and Ohio. They also upset incumbents in Arkansas, Nebraska, Nevada and Texas. In all, the Democrats captured seven more governorships, to bring their total to 34. They also will control both houses of 34 state legislatures, six more than they...