Word: ifs
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Dates: during 1970-1979
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Violent volcanic eruptions shaped the lofty Rockies near by, and today Denver is once again thrusting skyward. This time the earth shakes with 45-ton drilling cranes and six-cylinder Cat loaders constructing skyscrapers of polished granite, cold steel and gleaming glass. As the world price of oil rockets, energy...
A most exciting strike was made in 1975 when a drilling crew hit oil and gas deep in northern Utah's Pineview Field in what is known as the "Overthrust Belt." A giant geologic knot that twists from southern Colorado to the Canadian border, the belt was not considered...
Now that those mile-long gasoline lines are evaporating and Government officials are cautiously speculating that there may be enough heating oil to go around next winter, is the petro-squeeze of 1979 coming to an end? Not if OPEC can help it. To keep the market squeaky tight and...
The Nigerian and Algerian governments argue that the cuts are for purely technical reasons, to prevent the damage to their oilfields that would result if they continued indefinitely pumping out crude at recent rapid rates. Nigeria's claim may be partly justified, but Western oilmen charge that Algeria'...
Some companies, including Spain's state-owned Hispanoil, have refused to meet the extortionate price, but others may cave in soon if supplies grow much tighter. Late last month tiny Qatar had no difficulty auctioning off 3.2 million bbl. of crude for an excessive $34.30 per bbl. to Japanese...