Word: diesel
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Dates: during 1970-1979
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Instead, some nations are returning to preindustrial methods. Over the past few months, the price of tractors in rural Thailand has fallen 20% as fuel has become scarce and expensive. Prices of water buffaloes, which do not consume diesel fuel but do produce free fertilizer, have soared. Some Thai officials are rather relieved that their bureaucratic bungling has stalled the pace of industrialization. Says one official: "If we had been more successful, Thailand would be in much bigger trouble today...
...many: the suburbanite who works the night shift, the construction laborer who moves from site to site, the marginal farmer who drives to a supplemental job in town. But food production would not be set back; to run their equipment, farmers long ago shifted largely from gasoline to diesel fuel, and they are almost certain to be exempted from any tax increases or tight rationing...
Pessimistic moneymen scarcely seemed to notice some surprisingly encouraging news: U.S. consumption of oil is sharply declining. With prices rising dramatically and the nation's economy slowing, people at last are conserving energy. Gasoline consumption in October was down almost 8% from year-earlier levels; diesel and home heating oil sales were off 6.9%. Meanwhile, the Environmental Protection Agency gave permission to New England's largest power plant, the Brayton Point utility in Somerset, Mass., to conserve more oil by converting two of its four generators to burn low-sulfur coal. The energy supply picture also looked...
Nearly half the total deliveries entered as gasoline, diesel fuel, heating oil, kerosene and other products from refineries throughout the Caribbean. Now much of the loss will have to be made up by having companies divert non-Iranian oil to the Caribbean refineries, while sending the Iranian crude to European refineries instead. That will mean steeper prices for Europeans because much Iranian oil is being sold at prices far above the official OPEC maximum...
...California's Fluor Corp. and West Germany's Thyssen to build a $750 million, 200,000 bbl.-a-day oil refinery at Isfahan for the National Iranian Oil Co. The refinery has been a high-priority item for the Iranian government, which fears shortages of kerosene and diesel fuel during the winter. Last week, when the refinery was a month away from partial operation, Fluor called home its 52 remaining American employees, leaving Thyssen to finish the job. The few U.S. businessmen who remain in Iran represent a couple of banks and a computer company, and they...