Word: gusher
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...most stunning drop in profits was suffered by the big oil companies. Only two years ago, when petroleum prices were spiraling, the oil giants posted quarterly profit gains of 100% or more Now that the recession and the worldwide oil glut have caused prices to start falling the gusher of petroprofits is over, at least temporarily. Exxon's first-quarter earnings dipped 23%, Mobil's were down 49% and Standard of California's dropped a sharp...
...first class." But in recent years this sprawling, state-chartered institution, with 48,000 students, 2,100 faculty and 6,300 courses, has been playing a kind of academic catch-up game-raiding superstar talent from the faculties of such schools as Harvard and Princeton. Its weapon: a gusher of endowment money, fueled by oil wells on 2 million acres of West Texas land donated by the state in 1883. Says U.T. Vice President William Livingston: "All the money in the world won't create a great university. But you can't create a great university without...
Edwin Drake launched the petroleum age in 1859, when he drilled 69½ ft. into the ground along Oil Creek, near Titusville, Pa., and hit history's first oil gusher. Now, after more than a half-century of decline, the oil-and gasfields of Pennsylvania, Ohio, Kentucky and New York are gurgling anew. The fields are part of what geologists call the Eastern Overthrust Belt, a corridor of convoluted limestone, sand and shale that stretches 1,200 miles along the slopes of America's Appalachian Mountains, from the Adirondacks to Alabama...
...success in tracking down uptapped pockets of the precious fuel. In 1978 the Columbia Gas Transmission Corp. struck gas in Mineral County, W. Va., with a well that gushed 10 million cu. ft. of the fuel per day. A year later, the company tapped into a second natural gas gusher producing 8.8 million cu. ft. daily. Such start-up production levels are comparable to major wells in gas-rich Louisiana and Oklahoma...
...drilling around a dome near Beaumont, Texas, produced a gusher of unprecedented size. It was called Spindletop and gave birth to the modern petroleum industry. Since then, salt domes in the Gulf States have helped point the way to more than 6 billion...