Word: ares
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Dates: during 1970-1979
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Estimates of how much oil could be tapped off Alaska's entire outer continental shelf (OCS), including the Beaufort Sea, range up to 25 billion bbl., or nearly three times the reserves in Alaska's Prudhoe Bay field. Some oilmen believe that with a big development effort, Alaska...
Company officers are extremely wary of divulging details of their business, and slips can prove costly. Example: much of Saudi Arabia's ability to restrain OPEC from driving up prices has depended on whether the Saudis can convincingly threaten to boost production enough to create periodic petroleum gluts. Yet...
The controversy surrounding Aramco underscores the internal tensions within the U.S. over the nation's alarming dependence on foreign crude. The oil industry must have billions of dollars to expand U.S. drilling, exploration and other energy-producing investments that are needed to escape OPEC's hold, and Aramco...
The Interior Department has required the companies to take costly environmental precautions in the area. Oilmen will mount their rigs on artificial islands built of gravel. Those located in water depths of more than 42 ft., the Government insists, must be left unused for two years, to see if they...
Yet morale is high. Even though time clocks and foremen's whistles have been thrown out, Company Chief Broadwater believes workers are putting in longer hours. "We're not martyrs, we just want to see this place go," says Union Leader Ciarniello, who attends board meetings. "I'...