Word: crude
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...course, the craving for crude that keeps the game going. Petroholic economies everywhere remain excessively hooked on Demon Oil. When consumption periodically eases back, as it has been doing moderately in the industrial nations during the past two or three years, it is not so much because of effective governmental policies or the shift to alternative fuels as it is because of economic weakness and fitful growth at home...
Carter's plan to decontrol domestic crude-oil prices is a good first step to help the nation shake free of foreign oil dependence and the uncertainties that come with it. But there are misconceptions as to why the move is the right...
People may not like it, but the U.S. badly needs the Sisters, the big independents and the wildcatters. The world requires more oil, and surely nobody knows how to find the crude better than oilmen do. Energy Secretary Schlesinger, who came into office both suspicious and wary of the industry, has since grown to appreciate the difficulties of the business. Says he: "The companies do a reasonably good job, far better than people are willing to recognize." In dealing with the OPEC countries, he continues, "the only alternative would be a Government purchasing monopoly, and the overall performance of federal...
...embarrassment of riches comes when oilmen are battling to keep as much as possible of the increased profit that will begin flowing to the industry at the end of the month, when Jimmy Carter starts phasing out domestic crude oil price controls. As a result of controls, the average price of crude in the U.S. is $9.45 per bbl., vs. the world level of $14.55; removing the ceiling will increase oil company revenues by perhaps as much as $ 13 billion over the next 28 months...
...even so, OPEC officials insist that there is nothing wanton or immoral about their policies. Cartel members point out that in Western Europe most governments still collect more in taxes on petroleum imports than OPEC does when it exports the crude. Eventually, everyone stands to lose. The world's poorest countries have borrowed so much to pay for oil that their accumulated indebtedness has risen to more than $210 billion. Such major U.S. lenders as Citicorp and Chase Manhattan have huge loans out to India, Pakistan, Turkey and many other countries. Fears are rising that sooner or later some borrowers...