Word: magma
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...earth's hot interior is not used as a source of energy, in the manner of volcanic steam power plants in central Italy. Last week Pacific Gas & Electric Co. of California announced that it has struck a deal to make electricity out of underground steam produced jointly by Magma Power Co. of Los Angeles and Thermal Power Co. of San Francisco...
...site of the earth-power plant will be a hot spot near Healdsburg, 60 miles north of San Francisco, where hot springs and fumaroles abound. President Barkman C. McCabe of Magma Power thinks that a crack in the earth's crust allowed magma from the earth's hot interior to rise fairly near the surface. Magma is uneasy stuff, an intensely hot solution of steam and other gases in melted rock. When it bursts out in large quantities, it builds a volcano. When it does not quite break loose, it creates a geothermal area like the place near...
Atop their near-volcano, Magma Power and Thermal Power drilled four steam wells, using ordinary oil-well drilling equipment. The wells are 500 to 700 ft. deep, and the temperature -of the rock at bottom is about 600° F. When the wells are capped, steam pressure measures 300 to 400 Ibs. per sq. in., but when the steam flows, pressure drops to 100 Ibs. and temperature...
After a gloomy winter, copper investors thought they saw a few signs of spring. On the New York Stock Exchange last week copper stocks rose in heavy trading. At week's end Kennecott was up 2⅜ to 88⅞, Anaconda up 2½ to 46⅞, Magma 5¼ to 47. Behind the push was a ½? rise to 23½? a Ib. in copper price at custom smelters, which normally supply about 15% of U.S. refined copper. On the London Metal Exchange, where world prices are set and fluctuate with daily sales, copper closed...
...point. Tariff advocates argue that the U.S. imported an estimated 215,000 tons more than it exported in 1957. Without the imports, U.S. production would have been close to consumption. But the copper producers themselves have done no campaigning so far for a tariff increase. While Phelps Dodge and Magma, which now mine only in the U.S., stand to benefit from a tariff boost, international miners such as Kennecott and Anaconda are in a different position. Their domestic mines would profit, but it would be at the expense of their Chilean operations, which produce 66% of Anaconda's copper...