Word: crude
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Even though the Japanese are successful in producing and selling their products, their sense of social justice is crude, and their perception of the world is infantile. America has nothing to fear from Japan. U.S. power resides in its personal freedom and sense of fairness, which are lacking among the Japanese...
...Spanish supertanker Castillo de Bellver was lumbering around the Cape of Good Hope, some 75 miles northwest of Cape Town, on its way home with 250,000 tons of Persian Gulf crude oil, when at 1:30 a.m. crewmen discovered a fire near the ship's bridge. The crew attacked the blaze with foam extinguishers, but within minutes the fire was out of control. Said Captain Alfonso Civera: "The whole ship became an inferno...
...series of explosions tore the abandoned 1,000-ft.-long tanker in half, spraying burning oil for hundreds of yards in a vast arc around the wreckage. Caught in the curtain of fire that rose from the growing oil slick, the aft section, containing about 100,000 tons of crude, quickly sank. Supported by a pocket of air, the bow section remained afloat vertically, like a six-story-high buoy, with an estimated 40,000 tons of oil still trapped in its tanks...
...South China seas has consumed 18 months and attracted 33 companies, including 16 from the U.S. In May a group headed by British Petroleum won the first contract. The Occidental-led group is expected to spend $120 million on exploration. If it is successful in discovering commercial quantities of crude, the production contract will run for 15 years; China will get up to 51% of the proceeds...
...enormous but somewhat mysterious. They are estimated to range in volume between 30 billion and 100 billion bbl., which would make them perhaps the equal of the North Sea field. But for technical and political reasons China cannot maintain production from its existing wells, much less develop these huge crude reserves by itself. Last year China signed a separate joint-development contract with Atlantic Richfield, which has already begun test drilling in a 3,500-sq.-mi. block off the coast of Viet...