Word: oils
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Dates: during 1970-1979
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...people. When I ran for President, I tapped the basic problems of our nation: the shocking assassination of J.F.K. and the ignominious defeat that we suffered in Viet Nam. A realization for the first time that our nation has limited natural resources [came] in 1973-74 with the oil embargo. In some ways the nation has not gotten over this...
...effect two nations: the producing nation-ours is ahiong the largest on earth -and the largest consumer nation on earth. And in the past, as you know, the producers have controlled our political system. In the past two years, there has been a growing division in our society about oil because the consumer voice has become stronger and stronger, and now they're about equal, I think...
...Strategic Storage. One of the most critical functions given to the department was creation of a strategic petroleum reserve, a 1 billion-bbl. oil stockpile designed to offset shortages created by such interruptions as the Arab oil embargo of 1973. But when Iranian production was cut earlier this year, that reserve, which was supposed to stand then at 250 million bbl., had reached only 60 million bbl. Incredibly, DOE had not installed the pumps necessary to retrieve the oil from the Louisiana salt domes into which it was being pumped. Those pumps were finally installed last month...
...biggest customer for American military supplies. The latest arms deal will provide the Saudis' paramilitary national guard with armored vehicles, howitzers, machine guns and other infantry equipment. The sale, which requires presidential and congressional approval, came within a week of the Saudi decision to increase its daily oil production for the next three to six months by a reported one million bbls. to a total of 9.5 million, enough to ease substantially the current world shortage. U.S. officials denied that there was any link between the military sales and the Saudis' decision to raise their crude production, even...
Mexico's President speaks out on oil and relations with...