Word: mobilization
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Because most of the new fields are in inhospitable regions, exploitation costs are huge. In Canada a consortium led by Mobil is investing $4 billion to build and install the world's heaviest -- and costliest -- drilling platform 200 miles southeast of the coast of Newfoundland. The 1.1 million-ton rig, designed to withstand collisions with the giant icebergs that regularly drift through the area, will begin tapping the North Atlantic's 2 billion-bbl. Hibernia field...
...plans last month to look for oil in an offshore area in the South China Sea that Vietnam claims ownership of. The dispute could lead to a confrontation because the area may contain as much as 700 million tons of oil, and Vietnam has already leased it to a Mobil-led joint venture. Vietnamese officials say they'd like to find a peaceful solution, but they also say that giving up the region is non-negotiable. A military analyst told Time that the Vietnamese defense budget has recently increased nearly 50%, largely to beef up its air force with...
...college-level writing, co-sponsored by Mobil Corp., top honors belong to Kelly Sissom of Jones County Junior College in Ellisville, Mississippi. The first-prize winner in TIME cover design was Helen Evans of C.W. Baker High, Baldwinsville, New York, and in political cartooning, Gregory Shewchuk of Centennial High, Ellicott City, Maryland...
American companies are eager to do business in VIETNAM. Citibank, Philip Morris, Mobil, General Electric and Caterpillar are said to be lobbying for an end to the U.S. economic embargo. Coca-Cola and Kodak are already well known there, thanks to black-market sales. Last month the Backer Spielvogel Bates advertising agency, one of the world's largest, hosted a marketing conference in Ho Chi Minh City. Said Carl Spielvogel, chairman of the firm: "We believe there is an enormous potential there, and in Indochina generally. We intend to be pioneers in this market...
Question Four's biggest weakness has actually been ignored in the advertising, at least so far. Although proponents of Question Four have powerfully noted that the polluters of over 200 of Massachusetts' toxic sites--companies like W.R. Grace and Mobil--are paying for the "No on Four" campaign, this still doesn't seem quite fair to those companies currently not engaging in illegal dumping. Under the initiative, all companies using hazardous chemicals will be taxed, even ones with strong environmental policies...