Word: australes
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During the six-month austral, or southern, summer, when the South Pole is bathed in sunlight 24 hours a day, geologists from the U.S., Australia and New Zealand explored the rocky mountains of Northern Victoria Land. They found signs of such valuable metals as tantalum and lithium, used for making high-strength alloys. The Dufek Massif in the Pensacola Mountains, similar to South Africa's Bushveld, may have platinum and chromium, both strategic metals...
...project will tap an estimated 10 trillion cu. ft. of natural gas under 60,000 acres largely controlled by the Texas-based Austral Oil Co., which is paying 80% of Rulison's initial cost of $6,500,000. (Austral has contracted to sell the Rulison gas to the Colorado Interstate Gas Company). No one denies that the blast could be dangerous. To avoid injury from possible shockwave damage, 35 families living within five miles of ground zero will be evacuated. Residents up to nine miles away have been warned to stay outside of buildings; miners within a distance...
...something about their environment." The question is, what? The Denver Post has strongly criticized Project Rulison; the American Civil Liberties Union is seeking a court injunction. But Rulison's nuclear device is now firmly in place for the blast next week. On Wall Street, the price of Austral's common stock has more than tripled...
However depressing matters may seem for the wildcatters, there are still some signs of hope. Companies and syndicates have been created recently to finance independent exploration. Among them are Denver's King Resources, Los Angeles' McCulloch Oil Corp. and Houston's Austral Oil. One wildcatter recently discovered a field at Bell Creek, Mont.; it is capable of producing 130,000 bbl. a day in previously unexplored territory, which suggests that some large untapped pools of oil still exist for the wildcatter to find...
Trade & Land. The Braun-Menendezes own a fleet of twelve fishing and cargo ships, piers and a shipyard, and a six-plane airline called Austral with routes spanning 2,500 miles. Their 22 stores, selling everything from pins to pickup trucks, have prospered from Patagonia's oil boom; 600,000 sheep fatten on their vast ranches. In a holding company named La Josefina (after their mother), the family has impressive investments in Argentine banking, insurance and chemical companies. With all that diversity, they have prospered despite Argentina's continuing financial trouble. By family reckoning, their companies last year...