Word: gushers
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Dates: during 1980-1989
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...acres, in five years. He offered up huge tracts (as much as 40 million acres at a time) and cut the period between announcement of a lease to actual sale from 42 months to 22 months. Reacting to this steamroller, the states fought back with delaying tactics and a gusher of lawsuits. The result: a stalemate that held off some drilling and, not incidentally, hurt the Treasury (offshore leasing is its biggest source of revenue after taxes). As Elizabeth Raisbeck, an offshore oil specialist for the Friends of the Earth, saw it, "It was a leasing program out of control...
...resources of fuel, it must satisfy 65% of its energy needs with imported oil. For more than a decade, Ireland has been green with envy over Britain's North Sea petroleum windfall and has searched vainly for its own bonanza. Lately, though, Dublin has been awash in a gusher of speculation about a discovery in the Celtic Sea, which separates Ireland and Britain. Last week the rumors proved to be valid. Gulf Oil acknowledged that a test well only 20 miles south of the Waterford coast had produced a flow that suggests a sizable field. The early results, said...
Bennett's proposal hit a gusher. More than 2,300 teachers from 41 states applied for 225 places in the program. Since nine teachers were rejected for every one accepted, the competition was about as stiff as winning a place in the freshman class at Harvard or Brown. The university professors who taught the seminars made the final selections. "We had about 40 applicants who were on the same level academically as the 15 we picked," says Karl Galinsky, chairman of the classics department at the University of Texas in Austin; he sought the aid of a local high...
...most notorious confusion of all surrounded a Core course called Literature and Arts B-16, "Abstraction in Modern Art." Like a horde of wildcatters racing to the site of a gusher, some 600 students (roughly a tenth of the undergraduate population) descended upon the Fogg Norton Lecture Hall, hoping for a spot in the survey course...
...dependence on foreign oil once commercial production begins in 1986. The effects of the discovery may be felt as early as next month's meeting in Vienna of the Organization of Petroleum Exporting Countries. According to Oil Analyst Dan Lundberg, editor of the Lundberg Letter, the offshore gusher could lead to more unofficial price cutting by dissident OPEC members, weakening the links in the powerful cartel...