Word: beene
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Dates: during 1970-1979
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The Iranian oil cutoff and ever higher OPEC prices have raised the possibility of still further energy action. "It is clear that we must embark on new initiatives in all sectors and rethink what is possible," says Deputy Energy Secretary John Sawhill. He adds that the Administration is considering ways...
Shouting against the windfall profits tax, oilmen tirelessly contend that higher earnings will motivate them to search harder for oil and gas. Sure enough, as oil profits have marched up this year, so has domestic exploration. Steel drilling rigs, eight and ten stories high, are rising at muddy, cluttered sites...
Higher prices have persuaded oilmen to return to and redrill wells in the Williston Basin of North Dakota and eastern Montana, an important producing area in the 1950s. They are also exploring for oil in the Overthrust Belt, which runs down the Rocky Mountains, and they are going after gas...
The most shocking news comes from Ford Motor's upper reaches, where glum executives are circulating a confidential memo projecting that the firm will lose just over $1 billion on its North American auto operations this year and probably the same in 1980. The estimated losses had been raised...
Officially, as the Russians and their East European satellites see it, inflation is a disease unique to capitalism. "With the exception of the war years," triumphs Nikolai Glushkov, chairman of the Soviet State Committee on Prices, "there has never been any inflation in the U.S.S.R., nor does any exist today...