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...there are certain guys in and around Brooklyn who have been hijacking 3,000-gal. gasoline trucks for a month or so and making themselves a nice piece of change. So far, they have knocked over at least 15 belonging to Texaco, Mobil, Exxon and others. The companies store gasoline and oil in Greenpoint, a factory area in Brooklyn where the barges come up Newtown Creek and unload. The gas is trucked around New York City, and it does not take a genius to know that the trucks all have to take the same main roads...

Author: /time Magazine | Title: Business: The Big Steal | 1/21/1980 | See Source »

...friendly gas station, usually an off-brand place where a deal had been prearranged, sort of a hijack-to-order. It is not too shrewd to grab a tank truck and cruise the streets. Anyhow, the gas is pumped out, and the hijackers are handed 50? a gal., which is 15 big ones and O.K. for a couple hours' work...

Author: /time Magazine | Title: Business: The Big Steal | 1/21/1980 | See Source »

...from 600 to 1,100 this spring, and is studying a joint project with CPC International, the former Corn Products Refining Company, to make ethanol. The largest manufacturer of the additive, Archer Daniels Midland, has increased annual output at its Decatur, Ill., plant from 5 million to 55 million gal. in less than two years...

Author: /time Magazine | Title: Business: Gasohol Power | 1/21/1980 | See Source »

...political promise of gasohol outreaches reality. As prematurely outlined two weeks ago by Deputy Secretary of State Warren Christopher, the Administration program called for about "5 million tons of corn" to be used this year to make "over 500 million gal." of ethanol. That would be enough to displace a little more than one day's worth of oil imports. The present annual U.S. alcohol distilling capacity is only about 80 million gal. and nowhere near enough to consume 5 million tons of corn a year...

Author: /time Magazine | Title: Business: Gasohol Power | 1/21/1980 | See Source »

...Administration's actual gasohol incentive program aims to boost production and consumption. It defers that annual target of 500 million gal. of ethanol production to 1981. While generous, it falls far short of what some had hoped. It fails to ensure that federal farm policies will provide distillers with enough grain year after year. Instead of big new investment tax credits, it offers would-be distillery builders loans and loan guarantees totaling $300 million a year for ten years...

Author: /time Magazine | Title: Business: Gasohol Power | 1/21/1980 | See Source »

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