Word: oils
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Dates: during 1970-1979
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...Only after the inside temperature climbs to about 130° F does the furnace begin transferring warmth. Yet whenever the system shuts off, much of the accumulated heat within the furnace escapes up the flue. The vent damper is an electrically operated plate that blocks the flue during an oil-or gas-burning furnace's off cycle, thus retaining the heat. The plate then rotates to an open position when the unit trips on again. Department of Energy studies show that dampers can cut fuel consumption by an average 19% annually. Several manufacturers produce the device...
...made by the Con-Serv Corp., retails for $13.95 and cuts water flow to only 10.5 gal. Cheapest of all: a plastic "water-miser" insert that costs less than 1? and was mailed this autumn by the Department of Energy free of charge to 4.5 million homeowners throughout the oil-hungry Northeast...
...Saudi gambit is risky. By increasing a full $6 per bbl., the Saudi government is, like it or not, obviously tempting other cartel members to do much the same. Warns Walter Levy, an international oil economist: "This is the beginning of a further round of price increases. As long as spot prices remain substantially higher than OPEC prices, we are in an ever escalating situation...
...Alice-in-Wonderland world of the oil game, some observers argued that the rises were welcome, on the theory that they might somehow manage to forestall even bigger OPEC money grabs in the days ahead. By bringing its charges up to the $24 level, where much of the rest of OPEC has been for months, Saudi Arabia is attempting to return order and stability to the cartel's chaotic price structure as well as head off demands in Caracas for much steeper hikes by such cartel radicals as Iran, Libya and Nigeria. Said Saudi Oil Minister Ahmed Zaki Yamani...
...split developed this summer, when most OPEC members boosted their prices from $14.55 per bbl. to a full $23.50, but the Saudis chose to go to only $18. Soon even the $23.50 barrier was broken as members began selling single shipments of oil on the spot market for as much as $40-$45 per bbl. Several members have by now begun selling crude under long-term contracts for about $26 to $27.50 per bbl., inviting additional leapfrogging increases. By going to Caracas with their petroleum once again priced close to cartel levels, the Saudis will be able to argue that...