Word: exxon
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...Hampshire, the only state in the union with no sales or broad-based income tax, has been growing faster than any other Eastern state except Florida. More than one-third of its manufacturing labor force is now employed in technological industries. Exxon and Burroughs have recently bought land for construction of major new plants in Connecticut. "We were arrogant and half asleep for 25 years, allowing what we had here to be drained away," says Connecticut Economic Development Commissioner Edward Stockton. "Now we have incentives to encourage businesses to settle and stay here...
...going to Canada, of going underground, of becoming conscientious objectors should the draft resume. But the personal motives mask a core of political beliefs. Americans may have forgotten about Vietnam, but it doesn't take much to remind them, and draft registration brings memories back to the surface. Exxon and Mobil will be distressed to learn that large numbers of America's youth think oil isn't worth dying for. "What the fuck have they ever done for me?" asked one, obviously not a regular reader of the Times op-ed page...
...despite brimming storage tanks, the oil companies are buying all the crude that they can, even at $32 per bbl. Said one Exxon official: "There's still a fear of being caught short if Iraq reduced production or Iran cut back more. We're going to fill every bucket." American oil reserves now amount to only a ten-week supply of imports at current consumption levels, and today's ocean of oil could evaporate like a mirage in the desert...
ALASKA AND ARCTIC CANADA. Geologists reckon that this may be one of the world's best bets. Mobil and Exxon are looking in "iceberg alley" off Canada's east coast, and a dozen companies have been aggressively exploring the Canadian Arctic, especially the Beaufort Sea, where significant oil and gas have been found. But in U.S. territory near the famous North Slope fields oil explorers have not sunk many wells because of court actions brought by Indians and environmentalists who are worried about, among other things, disturbing the migration of the bowhead whale...
...says Houston Geologist Larry Meckel. "It could end up being the second or third largest producer in the world." But as with the OPEC nations, the country is husbanding its resources by holding back production. Farther down in South America, efforts are now being concentrated offshore, with Exxon and Shell preparing to drill around Tierra Del Fuego, where Charles Darwin once sailed on the H.M.S. Beagle, and the Falkland Islands. A promising area offshore of the heavy oil deposits of Lake Maracaibo is not being tapped because both Venezuela and Colombia claim the region. Politics also hinders Brazil...