Word: bonanzas
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Dates: during 1970-1979
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...shortages and sharply rising prices, the great increases fed suspicions on Capitol Hill that the oilmen were using the scarcity as an excuse for jacking up prices and making extortionate profits. Charged Connecticut Senator Abraham Ribicoff: "While the consumer is suffering, the industry seems to be receiving a bonanza...
With a per capita annual income estimated at $125, Nigeria needs all the oil and gas revenues it can get. But Gowon has no intention of rushing the oil bonanza. To husband reserves, he is limiting production increases to the 1% per month maximum he decided was prudent long before the energy crunch. Moreover, the oil revenues give Gowon a strong hand in keeping the twelve states in line. By doling out profits to all, he keeps a firm grip on the purse strings and the pattern of economic growth...
...this Third World gloom, there is of course one standout exception: the handful of underdeveloped countries that happen to be oil producers, including Iran, Indonesia, Nigeria, Venezuela and several Arab states, have struck a bonanza. Indeed, they could now afford to help their underdeveloped brethren, by setting a lower price on oil exported to poor countries than on petroleum sold to industrialized lands. In the past, however, oil producers have turned a deaf ear to pleas that they organize such a two-price market. They have argued, probably correctly, that it would lead to a black market that would siphon...
...would be averaged in with the cost of existing supplies. But in the long run, deregulation would send gas prices skyrocketing. At least partly for that reason, big gas producers are not beginning to exploit huge new finds in the Gulf of Mexico. Instead, they are waiting for the bonanza of eventual deregulation...
...link is proving to be a bonanza for U.S. firms; the Chinese import nearly 15 times as much from the U.S. as they export. Among the biggest ticket items to date are some 4,000,000 tons of grain, ten Boeing 707 jetliners valued at $150 million, and eight ammonia plants to be built by M.W. Kellogg Co. for $200 million. The Chinese are also anxious to do business with giant American oil companies such as Exxon, Mobil and Caltex, and makers of petroleum exploration and drilling equipment, including U.S. Steel International, Phillips Petroleum and Baker Oil Tools. Some analysts...