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...Nixon episode came two weeks after the Bush campaign caravan stumbled into a California brier patch with Ronald Reagan, who reportedly had said Bush was in trouble because "he doesn't seem to stand for anything." Reagan denied the story, but a meeting between the two was set up at Reagan's Bel Air home, traditionally off limits for photographers and reporters. In the heated campaign environment, it seemed like a Reagan chill. Last week Reagan was in Los Angeles' posh Regency Club clearing the air: "George Bush was with me in my crusade. I support his candidacy...

Author: /time Magazine | Title: The Presidency: Blasts from the Past | 3/23/1992 | See Source »

Campaigning in the oil patch last week, President Bush responded to the plight -- and political anger -- of natural-gas producers by taking steps to bolster demand. He removed regulatory barriers that have hampered utilities from converting power plants fueled by coal and oil to natural gas. At the same time, Bush lessened restrictions on the sale of compressed natural gas for cars and other vehicles. In Washington, Energy Secretary James Watkins declared, "The worst thing we could do is allow our oil and gas industries to decline the way we have...

Author: /time Magazine | Title: Hard Times The Great Energy Bust | 3/16/1992 | See Source »

Outside the oil patch, few notice and many benefit from the price slump. Supplies of oil and gas for home heating and industry, abetted by a string of six warm winters, have remained abundant. And the price of gasoline, an average $1.03 per gal. nationwide for regular, is the lowest in months, thanks largely to OPEC and other foreign producers; they have made up the drop in domestic production by supplying 43% of U.S. oil consumption. On the other hand, the public has not benefited from the drop in natural-gas prices, as pipeline companies and distributors have gobbled...

Author: /time Magazine | Title: Hard Times The Great Energy Bust | 3/16/1992 | See Source »

...trouble is that the oil and gas industry is one that many Americans have learned to love to hate. With the memory of Big Oil's vast profits in the 1970s and early '80s still fresh in their minds, consumers and lawmakers outside the oil patch have little sympathy for the industry's woes. But that could prove shortsighted at a time when U.S. reliance on foreign oil is rapidly on the rise...

Author: /time Magazine | Title: Hard Times The Great Energy Bust | 3/16/1992 | See Source »

...Patch Goes Bust...

Author: /time Magazine | Title: Magazine Contents Page | 3/16/1992 | See Source »

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