Word: oils
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Dates: during 1970-1979
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...through southern Africa, never became fully operational, because of theft, widespread mismanagement and frequent breakdowns in equipment. Zambia, already suffering from falling world copper prices, found it increasingly difficult to get the metal to markets. Skyrocketing prices and continual shortages of such vital goods as soap, matches and cooking oil created popular unrest and encouraged political opposition to Kaunda's less-than-democratic regime...
...visions of an imminent energy Armageddon that seemed so plausible right after the 1973 Arab oil embargo have gradually faded, but the serious questions remain: How much oil does the world have left? When will...
Firm answers are difficult to come by; witness the Central Intelligence Agency's forays into the slippery field of oil forecasting. In his drive for a conservation-oriented energy program early last year, President Carter leaned heavily on a CIA forecast for his ominous prediction that depletion of all of the proven reserves "in the entire world" could begin by the end of the 1980s. Now comes another CIA report, this one prepared by Richard Nehring, a policy analyst for the Rand Corp., which concludes that doomsday is considerably further...
...present rates of consumption, the Rand researcher says, there is enough oil around the world that is recoverable through conventional drilling to last for 60 to 90 years. If demand does increase and supplies are being used up more quickly, Rand experts believe that energy requirements could still be met through conservation measures and the use of special techniques to squeeze more oil out of existing reserves...
...differences between the two CIA studies illustrate the difficulties that oil forecasters face. The earlier report went wrong because it made dubious predictions that the Soviet Union would soon become a major oil importer, placing further strains on the world's resources. In fact, the Russians seem more likely to add to the world's reserves than deplete them...