Word: gulf
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...only does the trauma in Tehran threaten at any moment to choke off deliveries of nearly 3 million bbl. of crude per day to an oil-thirsty world, but it increasingly jeopardizes petroleum supplies throughout the Middle East. U.S. Government officials calculate that a widespread upheaval in the Persian Gulf could quickly cut U.S. imports by 4 million bbl. per day, or more than 22% of total consumption. On another front, the 13-nation OPEC cartel, which has raised petroleum prices by some 1,600% since 1970, is preparing to lift prices yet again when it meets next week...
More and more OPEC members are discovering that they can collect just as much by cutting production. Kuwait, Iraq, the United Arab Emirates, Algeria and Libya have all announced cutback plans for 1980, and others are likely to follow. Warns Gulf Oil Corp. President James Lee: "We estimate that OPEC could cut its exports by about 8 million bbl. per day, or nearly 25%, and still maintain balanced economies for its members." Reason: as the cartel sold less oil, the price for the diminished supply would automatically surge...
OPEC producers hardly seem in the mood to be particularly generous to anyone. Though Treasury Secretary G. William Miller spent much of last week in Persian Gulf capitals urging price moderation and a boost in production, officials did little more than listen politely...
Charles Bluhdorn, the ultimate conglomerateur who merged some 150 companies into the $5 billion-a-year Gulf & Western Industries, is a tough, autonomous type, well known for his flamboyant and freewheeling manner. Last week, in a 60-page civil suit, the Securities and Exchange Commission charged G &W, Board Chairman Bluhdorn and Executive Vice President Don F. Gaston with "fraudulent courses of conduct...
...Frank Tivan, associate director of the Massachusetts Petroleum Council, said last, week offshore operations in the North Sea, Alaska and the Gulf of Mexico were proof that drilling does not damage the ocean environment. "The catch of fish in the North Sea has increased four times. Rigs didn't impede the fishing industry," Tivan said...