Word: crude
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Show and Tell. To help dispel public doubts about the shortage, oil companies have begun releasing previously secret figures on their inventories of crude oil and refined products. On Saturday, Nixon promised to submit legislation requiring the oil firms to "provide a full accounting" of their inventories, reserves, production and costs. "I will not allow the American people to be victims of a snow job," he said. Exxon became the fifth major firm to make the disclosures. The companies' figures generally show that stocks of crude and most petroleum products are about the same as or slightly higher than...
There was one set of statistics that oil executives were not at all reluctant to disclose last week. Largely as a result of the Arab oil embargo, imports of crude into the U.S. declined by 10% from the week before, and are now running 22% behind the early autumn. Treasury Secretary George Shultz last week said that Middle East troop disengagement (see THE WORLD) would lead to a relaxation of that embargo; but he did not predict when. Saudi officials have declared that they would keep it clamped on until the Israelis agreed to a complete pullback behind 1967 borders...
...depots. Afterward the U.S. Defense Fuel Supply Center contracted with Esso and Shell in Singapore and Caltex in Saudi Arabia for shipments to the same depots, now under local management. But early in November the Saudis warned that Singapore's refineries might be cut off from Arab crude if the refineries continued to fulfill U.S. military contracts-and that included fuel ordered for America's allies. Rather than let South Viet Nam's internal-combustion war machine run out of gas, the Defense Department began siphoning fuel from its own reserves in the Pacific. In November...
Further along on the horizon are schemes to produce synthetic crude oil from coal. Several experiments are under way, of which the F.M.C. Corp.'s pilot plant is farthest along. As in gasification, the process begins by grinding coal into fine particles and then heating them in hot vessels. When hydrogen is added, the coal particles dissolve, becoming both good quality oil and gas. Again, the cost is high. But the interest of both industry and Government in coal is even higher. If all goes well, that dirty, difficult material will once more be the U.S.'s king...
...against Republicans or the Dodgers versus the Giants. Watching the battle between our censors and our civil libertarians has become a national pastime. Little does it matter what works are in dispute; the issues remain remarkably constant. Indeed, over the decades, the questions have become even more refined--or crude, if you prefer--and are now beginning to be asked in their purest forms: it's a lot clearer what's in dispute over Deep Throat than in Ulysses or Lady Chatterly's Lover half a century...