Word: midlands
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Dates: during 1970-1979
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...other types of power plants; they take about ten years to complete, while coal-burning plants can be built in seven years. The extra time is money - lots of it - because the costs of building and borrowing are skyrocketing. Thus, the cost of a nuclear power plant planned for Midland, Mich., in 1968 was estimated to be $260 million; the plant, not yet finished, is now expected to cost $1.4 billion. In total, says Power Plant Builder Leonard Reichle of Ebasco Services, Inc., a nuke costs $1,005 per kilowatt of generating capacity, while a coal-fired plant costs between...
...indoors. Friday night he was in Kansas City, Kans., for another fund raiser; on Saturday he flew to Dallas, and amid inevitable reminders of John Kennedy, Ford addressed some 2,000 members of the National Federation of Republican Women and spoke at Southern Methodist University. Then he journeyed to Midland, Texas, where he dedicated the Permian Basin Petroleum Museum and was thanked with a shower of rose petals-a fitting gesture in a week when Congress sustained his veto of an oil decontrol bill...
...depths of the recession last winter are now about 70% invested in the market. Other institutions have made an even more dramatic turnabout. Philadelphia Investment Co., which had 75% of its assets in cash last fall, is now 75% in stocks. At New York's Marine Midland Bank, Vice President Richard Hobman acknowledges that "the vast majority of our cash is fully invested." Growth-oriented mutual funds have been among the heaviest stock buyers of all. The Value Line funds have been 100% in the market since the fall. Says Value Line Head Arnold Bernhard...
Odessa and Midland sat on the prairie like towns in which the clocks had stopped. Oilmen capped marginal wells, sold their drilling equipment abroad or simply abandoned it in the fields; oilfield hands moved on to Canada or Alaska, or took other jobs. But then, in September 1973, Congress allowed "new" oil-produced above a 1972 base level -to float up to the world price, now about $11 per bbl. Suddenly, the producers, promoters, roughnecks and fortune hunters flocked back in droves to the oldtime West Texas boomtowns -and they are still coming...
...explosive growth of Odessa's population-from 93,000 to 102,500 last year. Even those with money are often forced to leave for lack of a home, and Odessa churches and citizens have bought dozens of bus tickets for the destitute. Housing is somewhat more plentiful in Midland but is far too expensive -and distant-for the average oil-patch laborer. "Midland is a good place to raise children," goes the local saying, "Odessa is a good place to raise hell...