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...exchange by exporting natural gas to the U.S. from the Reforma petroleum field near Cactus. Negotiations with six U.S. companies were almost complete and a 900-mile, $1.5 billion pipeline was under construction when Schlesinger abruptly vetoed the deal because Mexico's price of $2.60 per 1,000 cu. ft. was higher than the $2.16 being charged by Canadian suppliers. López Portillo vowed to burn off the gas and leave the oil in the ground rather than sell it to the U.S. The pipeline was rerouted to the industrial city of Monterrey, and as a further gesture...

Author: /time Magazine | Title: Nation: To Mexico with Love | 2/19/1979 | See Source »

...running war with the Mexicans started in December, 1977 when Foreign Minister Santiago Roel and Petroleum Chief Diaz Serrano came to Washington to seek approval of an already negotiated deal between their government and U.S. pipeline companies for Mexican natural gas. The tentative agreement would have delivered 2 billion cu. ft. of gas per day to the U.S. at $2.60 per thousand cu. ft. More important, the deal would have helped speed up the development of the Mexican oil industry. But Schlesinger dumbfounded his visitors by stating that the proposal was unacceptable; the Mexican price was too high, he said...

Author: /time Magazine | Title: Nation: The Man Who Offers Pain | 2/19/1979 | See Source »

...loading dock that the Chinese specifically asked to see, a container loading dock and the Lockheed shipyard. In the afternoon, Teng was to visit the Boeing plant in Everett 30 miles north of Seattle. There, on the floor of the world's most spacious building (200 million cu. ft.), are eleven Boeing 747s in various stages of construction. After dinner with executives of five firms that do business with China (Dungeness crabs, oysters, and at Teng's request filet mignon) and a night's rest, Teng and his party would board their 707 for the return...

Author: /time Magazine | Title: Nation: Teng's Triumphant Tour | 2/12/1979 | See Source »

...making gas available in new construction have held down the number of residential users, and that is something that the Energy Department would also like changed. So confident has the department become about the availability of domestic gas that last week it rejected import applications for some 2 billion cu. ft. of liquefied natural gas a day from Algeria...

Author: /time Magazine | Title: Business: Natural Gas: Sudden Glut | 1/8/1979 | See Source »

...night sky south of Villahermosa is filled with a fiery glow. It comes from great gouts of flame that flare off natural gas from scores of wells dotting the steamy marshes, scrubs and jungles of the aptly named state of Tabasco in southeast Mexico. Every day, 300 million cu. ft. of gas, enough to supply the energy needs of Vermont for a month, are simply burned off, in part, because the U.S. Government refuses to pay the price that Mexico demands. The huge gas supply and the appalling waste are symbolic of the future promise and present uncertainty of Mexico...

Author: /time Magazine | Title: Energy: Mexico Joins Oil's Big Leagues | 12/25/1978 | See Source »

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