Word: oilfield
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Dates: during 1980-1989
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...going to take it any more!" The money behind Chiles' mouth ($1 million annually) comes from the Western Co. of North America, an oil well service and offshore drilling firm that he helped found in 1939 and still runs. Chiles, who worked as an oilfield roustabout before earning a degree from the University of Oklahoma in petroleum engineering, pioneered the method of acidizing wells to increase production. In the past five years Western's revenues have nearly tripled, to $275 million. Chiles, whose company holdings are worth $31 million, claims that the anti-Government commercials, which carry...
...first glance, it looks like any other oilfield, with acre upon acre of pumps rhythmically nodding up and down as they suck up the crude oil trapped in rock below the surface. But the Guadalupe, Calif., oil patch 50 miles northwest of Santa Barbara is no ordinary oilfield. Like a growing number of production sites in California and Texas, Guadalupe is producing a gloppy goo that looks more like asphalt than normal petroleum. This is so-called heavy oil, a once rejected energy source that oilmen now believe may help diminish the nation's dependence on imported petroleum...