Word: oils
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Dates: during 1970-1979
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Since the Arab oil embargo nearly every major oil company has been researching technologies for cost-competitive production of fuels from coal, shale and tar sands, with little regard for the environmental consequences. Replacing just ten per cent of the nation's oil production with liquefied coal would require a mining capacity equal to one half of the present U. S. coal output. This would require heavy strip mining, which causes devastating damage to the land...
...Jeffrey R. Toobin, writer of the Box, for pointing out that it was that Pittsburgh and Baltimore are "aging industrial cities" that are only "an hour's plane ride apart." Pittsburgh aging? you must mean senile. As the headquarters of penny ante companies like U.S. Steel, Gulf Oil Corp., Alcoa and Westinghouse Electric Corp. it couldn't possibly be an industrially sophisticated city. Their baseball team naturally lacks sophistication because of this...
...essential problem, as the Saudi Minister Sheik Ahmed Zaki Yamani admitted during a visit to Washington last week, is that OPEC has "lost control" of price levels. It is now up to the oil-consuming nations to limit price increases by curbing demand. Yamani's point is well taken. The only reason that Libya and Iran have been able to lift prices so much so soon is that, despite an international agreement earlier this year to curb imports, demand for oil continues to grow at a time when Iran's internal problems and lack of technical expertise threaten...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
Harvard owns stock in several of the companies on the protesters' "profits of doom" list, including General Electric, Exxon, Gulf Oil, Atlantic Richfield Oil, and Kerr-McGee