Word: oklahoma
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Dates: during 1970-1979
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...Gene Moore is scanning the cloudy skies, pulling on a cigarette, adjusting the treble on his stereo and aiming his blue Ford pickup truck toward western Oklahoma...
This week two powerful members of the House Ways and Means Committee, New York Republican Barber Conable and Oklahoma Democrat Jim Jones, will submit a bill calling for a very similar 5-10 depreciation plan. They have dropped the one-year aspect because it is too difficult and costly to determine what kind of federally mandated plant should qualify; for example, regulations require that elevators be installed in 20-story buildings, but no one thinks they should be written off in one year. The kind of expense on which business would like to have relief was highlighted last week when...
Democrats who urge tax breaks for business used to be as rare as Southern supporters of memorials to Ulysses S. Grant, but that was before Oklahoma Congressman James Robert Jones started working the corridors. As the party's primary advocate of liberalized depreciation rules, Jones is at the fore of a neoconservative fiscal bandwagon that is straining the old free-spending coalitions of the New Deal and the Great Society. He is also one of the most effective and fastest rising members of Congress...
What are the chances? Not bad, says Ketelsen. Decontrol of U.S. gas prices has made deep drilling worthwhile; there is a lot of gas 15,000 to 25,000 ft. below Louisiana, Oklahoma and probably New Mexico. Just last week, Tenneco struck gas in the previously discouraging Baltimore Canyon, 80 miles off the New Jersey shore. Farther in the future, Ketelsen has hopes for geopres-surized gas-squeezing out large amounts of methane that is mixed in with sea water in mammoth caverns along the coasts of Louisiana and Texas. The $3-per-bbl. tax credit, now proposed...
Despite the success stories, doctoring is often not enough. Composer Jule Styne believes that great hits-My Fair Lady, Oklahoma!, Fiddler on the Roof, A Chorus Line-were great from the start and only needed polishing. "Ninety percent of plays that call in a new writer and director fail," says Styne. "Sometimes the best you can do is to convince them to close," adds Joseph Stein, who wrote Fiddler on the Roof and has doctored such plays as Irene and Raisin. "If you're lucky, the show will be mediocre...