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...will also rise by $5 billion, to perhaps as high as $100 billion. Higher crude prices will quicken the pace of inflation in all Western countries. Washington experts predicted that in the U.S. the OPEC decision would boost the cost of gasoline at the pump by 4.70 per gal. and the price of heating oil by the same amount...

Author: /time Magazine | Title: Business: Bali High for Oil Prices | 12/29/1980 | See Source »

...both crude and a variety of refined products like heating and diesel oil and gasoline. The little oil now being sold on the spot market is commanding about $40 per bbl. The price of heating oil on the East Coast is expected to increase from about $1 per gal. to perhaps $1.25 per gal. by early next year. Those rising prices are themselves encouraging cartel members to seek crude oil increases, thus intensifying the vicious circle of spiraling prices...

Author: /time Magazine | Title: Energy: The Seven Lean Years | 12/22/1980 | See Source »

...October, when the Persian Gulf war cut off shipments from Iraq and Iran, Brazil lost 40% of its petroleum imports. Following that, the government moved even more vigorously to alcohol power. It hiked the price of gasoline to $3.10 per gal., or 86% higher than the cost of alcohol fuel, and increased road taxes on gas-powered cars to 134% more than on alcohol models...

Author: /time Magazine | Title: Energy: Proof It Works | 12/22/1980 | See Source »

...energy-saving devices. A computer automatically shuts off all lights at 6 p.m. unless instructed to leave some on. Advanced sodium-vapor light fixtures focus illumination on desks instead of dispersing the glow throughout the room. This alone should cut electricity use for lighting by half. A 300,000-gal. underground tank stores water that is chilled overnight when power costs are lower; the water is then used in the air-conditioning system during the daytime. Jobs that require work at unusual hours will be concentrated in an adjoining three-story building so that the taller structure is not heated...

Author: /time Magazine | Title: Energy: Pinching Power | 12/22/1980 | See Source »

...like the Super Saver cut ticket prices by up to 55%. For a while, the crowds of new passengers kept earnings up, but the combination of rising fuel costs and recession sent the airlines into a downdraft. Since 1979 the price of jet fuel has jumped from 40? per gal. to 92?, while passenger traffic has slid by 3%. The major carriers, which earned a record $1.2 billion in 1978, have lost a total of $333 million...

Author: /time Magazine | Title: Business: Fare Flight | 11/24/1980 | See Source »

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