Word: nationalizes
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Dates: during 1970-1979
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...energy shortage will bring an economic surge to resource-rich regions. No place has the pace of exploration and the intensity of development to match the Rocky Mountain region that embraces Colorado, Utah, Wyoming and Montana. Locked in the area's majestic peaks and prairies are the nation's most lavish supplies of undeveloped coal, oil, natural gas, shale oil, uranium and almost everything else that creates power...
...city. They range from one-man operations selling drilling-survey data to such giant conglomerates as Gulf, Texaco and Standard Oil Co. of California. Newcomers have swelled the population of the metropolitan area from 1.2 million in 1970 to 1.6 million today-including 4,000 geologists. One of the nation's fastest-growing cities, Denver has begun to rival Houston for the title of "Energy Capital, U.S.A...
Like Lewis, countless other managers and entrepreneurs are coming to Denver to live amid its comfort and culture while their hired roughnecks and miners squeeze the energy from the rural outposts. Colorado, Montana, Utah and Wyoming contain 48% of the nation's proven coal reserves, 15% of its oil and 10% of its natural gas. Many geologists believe that these estimates substantially understate the area's true energy wealth. Rising prices make it worthwhile for oilmen to drill into sites that previously were considered too risky or too costly to develop. Some experts figure that new oil finds...
...wants to be their champion: Arthur Levitt Jr., chairman of the American Stock Exchange, where 95% of the 964 listed companies have revenues under $350 million. He proposes to form a lobby that would be patterned after the Business Roundtable, whose members include the chiefs of 190 of the nation's biggest corporations. His organization, Levitt says, would be open to "any company under the FORTUNE...
Narrow, single-interest groups are preventing the compromises that are essential to democracy, Wriston says. Nobody, not even the President, is empowered to make a tradeoff, to decide that the nation will incur some risks and costs and unpleasantness to build the productive base and acquire the energy that is needed to head off unemployment and prevent the lights from going...