Word: oil
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Dates: during 1970-1979
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...program's goal was to raise an extra $3.5 billion in Canadian tax revenue in order to move toward full energy independence for Canada by 1990. Unfortunately, it was not as simple as it seemed. Crosbie's budget called for whopping tax increases on gasoline, heating oil and alcohol, and a 5% surcharge on corporate taxes. The gasoline tax alone would be increased from 7? to 25?. Explained Crosbie: "It is short-term pain for long-term gain. That...
...cost of electricity disappears round the bend, as heating oil levitates to 90¢ per gal. from about 55¢ a year ago, grubbing for firewood in a muddy forest does not seem such a bad idea. A few years ago, a good many Americans could not have said for sure what was being burned to keep them warm. Heat bills were often less than phone bills. Now, they not only know what heats their homes, but millions, particularly those who must use oil, are painfully aware that their bills will nearly double this winter over last year. Solar heating of water...
...believe that growth in energy use is a necessary element in the improvement of society's well-being?conservation, however limited, is beginning to be a hopeful factor in the nation's energy calculations. To what degree the flammable situation in the Middle East, the world's largest oil- producing region, plays a part remains uncertain. Price is a key factor and it keeps going up. Administration officials are confident that heating-oil supplies are sufficient to tide the nation through the winter, despite the U.S. declaration of a boycott of Iranian crude in November...
...Iran shortfall actually will not register until January, and while it may cause a gasoline shortage early next year, Washington describes heating-oil reserves as being above 1978 levels and higher than the "projected normal stock range." The fact is that less heating oil has been ordered by customers so far this year than during the same period in 1978. A relatively warm November has helped, but the Department of Energy gives much of the credit for the shrinkage in demand to high prices that in turn have led to greater conservation efforts. Citizens are discovering that plugging holes...
Wood stove manufacturers and importers have not yet been subjected to a windfall-profits tax, but envious oil refiners may begin to lobby for just that any day. At the All Nighter Stove Works, in Glastonbury, Conn., President James Morande says that his three-year-old firm is producing at capacity, 480 woodburners a day, at prices that run from $379 to $689, against a demand that exceeds 1,300 a day. Business is up 122% over last year. Morande talks bemusedly of visiting a retail stove store in Portland, Ore., where ten salesmen, gracing...