Word: fors
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Dates: during 1970-1979
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Last week briefcase-toting oilmen gathered at a Fairbanks hotel to bid for drilling rights in the first small part of the U.S.'s Beaufort Sea sector to be opened to exploration. Offers by the companies totaled $2 billion for some 500,000 acres of tracts, but when the...
The Interior Department has required the companies to take costly environmental precautions in the area. Oilmen will mount their rigs on artificial islands built of gravel. Those located in water depths of more than 42 ft., the Government insists, must be left unused for two years, to see if they...
Despite these precautions, lawsuits could hold up the start of Beaufort Sea development for some time. Oral arguments in the federal suit brought by the National Wildlife Federation will be heard in a Washington, D.C., court on Jan. 3, and there is no telling exactly when or how the case...
Apart from their frustration over the delays wrought by such environmental suits, U.S. oilmen feel that Washington is moving too slowly in leasing new offshore areas. The Interior Department recently stepped up its schedule of lease sales over the next five years, from 26 to 30, but that will do...
Now, nine months after the new employee-owned company, Republic Hose Manufacturing Corp., took over the one-story plant, productivity is up 40%, and the rate of rejected products has dropped from 8% to 1%. The firm, which today employs 130, estimates that for its first complete fiscal year it...