Word: crude
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...House bill is a massive attempt by Democrats to throw the full weight of the U.S. Government against the price-setting power of OPEC and thus roll back the price of petroleum. It would reduce the price of "new" domestic crude (oil in excess of what was produced in 1972) from its present $13 per bbl. to $7.50. Producers in especially high-cost drilling areas, like offshore, would be allowed to charge $8.50 per bbl. The price of "old" domestic crude, which is now frozen at $5.25 per bbl., would be allowed to rise to $7.50 also-but only over...
Under Scrutiny. Consisting of New England Petroleum Corp. and some 40 affiliates, Carey's company supplies oil to New York State utilities and others along the Eastern seaboard. It also explores in the North Sea, pumps crude in Abu Dhabi, refines in the Bahamas, ships round the world by tanker, truck and pipeline, and owns storage terminals with a capacity of 25 million bbl. Most of the Carey Corp.'s business is with industrial customers. But a subsidiary, Burns Bros., supplies heating oil to New York metropolitan-area homes. In Canada, the group's Caloil affiliate sells...
...next morning and putter up to Yellowstone, across the Wyoming desert. Between the sear, hard-sapped breasts of the Wind River Indian Reservation we tourist, listening to the sweet harmonies of Judith Collins over the sagebrush-bearded grandmother's chest of the land. Black pumps tap reservoir's of crude, titting the dinosaur-jawed, stone-ribbed poundings of the earth. A few junkyards--abundant with rotting cars--decorated the roadside, but no Indians...
...knots all day, squalls are brief, and the yacht bowls along through a vast basin of sea, rimmed by a half-circle of blue mountain peaks that runs south to Grenada 60 miles away. Braced against the wheel, refreshed with iced milk punch (embellished on the label with a crude drawing of a hairy fist), and watching the flying fish skitter like fusiform silver bugs from the indigo waves, you slip into the most delectable and mindless of rhythms. That can be a mistake, even for real captains: one bright afternoon in 1971, the Antilles, a 20,000-ton French...
...sleet, 100-ft. waves and British muddle came on the 160th anniversary of the battle of Waterloo, and it sent Energy Secretary Anthony Wedgwood Benn into a fit of hyperbole as he opened the first valve on the Isle of Grain. Benn held aloft a souvenir bottle of the crude and announced to an assembly that included U.S. Ambassador Elliot Richardson: "This is much more significant and historic than the moon shot, which only brought back soil and rock...