Word: glut
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...about this time of winter, users of natural gas start worrying about whether they are going to make it through to spring without shortages and cutoffs. This winter is turning out to be different in a quite unexpected way. Instead of looming shortages, the problem now is a projected glut...
...Carter Administration in the welcome but confusing position of having to do an about-face on gas policy. Energy Secretary James Schlesinger still wants industrial and commercial users to switch to coal, which is by far the nation's most plentiful fossil fuel. To help alleviate the gas glut, however, he would also like any user that has already disconnected from gas and shifted to fuel oil to switch back...
Over the past few months, the Chinese approached Gulf Oil and several other U.S. oil majors to discuss possible oil sales, but these firms were not very interested. All were put off by the generally low quality of Chinese crude, the high cost of Pacific shipping and the glut of Alaskan oil on the West Coast. Still, Peking wanted the hard dollars that an oil sale would bring, and the terms of the Coastal States deal were made more attractive than the previous contracts offered to the other companies. The price is believed to be far enough below OPEC levels...
Dominica (pronounced Dom-in-ee-ka) will need it all, and probably more. Apart from bananas, limes and, that Caribbean rarity, fresh water from its more than 300 rivers, the island does not have a lot going for it. Even the banana trade has mottled, due to a worldwide glut. Unemployment hovers around 20% and is particularly devastating among youth...
Certainly not from oil or natural gas. Despite the current oil glut, the world's known reserves of both petroleum and natural gas are expected to be declining by the end of the century, and it would be folly to burn what remains to generate electricity. They are far too valuable as essential ingredients for plastics, fertilizers and other chemicals and as fuel for cars, trucks and planes...