Word: oilmen
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Dates: during 1980-1989
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...entire $88 billion will be used, in effect, as a "sweetener" in the form of loan, purchase, and price guarantees to lure private industry into the synfuel business. Though more than two dozen small-scale synfuel projects are already either being constructed or operated around the country, many oilmen remain unenthusiastic about starting up plants of their own. The technology for synfuels is expensive and cumbersome, and even though petroleum prices seem to climb higher almost daily, synfuel continues to be one of the costliest and least competitive of all energy sources...
Unpredictable jumps in raw material prices constantly sabotage his planning. His suppliers have slowed their deliveries, and customers have stretched out their payments. The bank charges him 24% on loans to maintain his inventories. Since oilmen buy his control consoles, the energy boom has put Ozuna in better shape than most entrepreneurs to endure the recession, but his profit margin has plunged from 12% of sales in 1978 to 4% during the past six months...
That at least is the opinion of oilmen and Government officials. Last week they were considering whether a renewed Iranian cutoff would create havoc in world markets and compel "oil sharing" among the U.S. and 19 other members of the International Energy Agency...
...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...