Word: coaling
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Dates: during 1960-1969
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Europe's major steel producers will set a tonnage record this year, but the industry's predominant mood is one of gloom rather than cheer. Reason: despite repeated warnings from the European Coal and Steel Community, steelmakers have expanded too rapidly. This year, capacity in Britain and the Common Market countries will rise by 10.7 million tons-while orders from such important customers as the construction and auto industries have slacked off. Britain will have excess capacity until 1970. Italy's state-owned Finsider, which supplies 63% of Italian steel, has completed a string of four coastal...
...glut has dropped most European steel prices toward their lowest level in ten years, yet the cost of production keeps rising. West German plants are forced by Bonn to use uneconomical coal from the Ruhr instead of cheaper U.S. imports; the difference causes a pricing disadvantage of up to $5 a ton in competition with incoming Dutch and Italian steel. Steel imports, as one result, have climbed from 15% of German sales to 25% in the past five years. French steelmakers must import 25% of their coke, pay a 15% to 20% duty...
...materials that offset each other's weaknesses are glued together with adhesives made from coal tar or polyurethane foam. Bonding fragile fabrics onto stable yet supple synthetics, textile manufacturers can make cloth that lasts longer, holds its shape better, and resists stretching. The potential of the hybrid materials is so great that 300 million yards of bonded fabric have been produced this year, and by 1970 bonding is expected to capture 50% of the industry...
...with conventional power but made it the cheapest of all available forms of electricity in many parts of Europe. German power experts calculate that a large modern nuclear plant can churn up power for 6 to 61 mills per kilowatt-hour v. 71 to 9 mills for an equivalent coal plant. Hydroelectric power is cheaper than both, but is not widely available. Switzerland and Sweden are opting for nuclear power because they are running out of water sources...
...consume more than the French, and schnapps. Most important, Erhard announced plans to renege on some of his party's pre-election promises by paring or postponing bills that were to give bigger handouts to his country's already well-subsidized refugees, mothers, students, farmers and coal miners...