Word: petroleum
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Dates: during 1970-1979
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...major companies' future is uncertain as they will face competition for markets from the oil countries' state-owned companies. Some national producers want to squeeze the private oil companies because they are viewed as competitors. Mani Said Utaiba, Petroleum Minister of the United Arab Emirates, complained: "These profits are being used by [the companies] to find alternative sources for our oil. They are investing on a huge scale in the Arctic and the North Sea. This we will not accept...
...crisis promises to shake the world for at least another five years or longer. It will take that long for importing countries to develop alternative energy sources and more petroleum in nations outside OPEC. Oil will be flowing in from Alaska by 1978, but the total?600,000 bbl. a day at first, 2 million bbl. a day by 1981?will not free the U.S. from the need for foreign supplies. Britain and Norway are each expected to be pumping 2 million bbl. a day from deep below the North Sea by the early 1980s. But the rest of Europe...
Next to Faisal, the ruler who gained most from oil last year was not an Arab but the "Light of the Aryans," the Shah of Iran. His country, the world's second largest oil exporter, quadrupled its petroleum earnings, to $20.9 billion. Impatient to industrialize and militarize, the Shah pressed the construction of automobile and petrochemical factories, dams and hospitals, and ordered 70 F-4 Phantom jets and 800 British Chieftain tanks to bolster a mighty armed force. This swelling strength raised apprehensions among some Arab governments in the region and evoked new hostility?but also won new respect...
...October war presents some internal problems for Saudia Arabia. No one appreciates those problems more than somber King Faisal ibn Abdul Aziz al Saud. Even as OPEC oil, of which Faisal's reserves constitute the largest share, rocks Western economies, the West's relentless thirst for petroleum is in turn forcing far-reaching modernization on Faisal's desert kingdom. Faisal has faced no greater quandary since he displaced his inept half brother Saud from the throne in 1964. At that time, hard as it may be to believe today, his country was unable to pay its debts...
Couldn't some method be used for converting those millions of tons of feces per day to usable energy? We could supply the world with our own breed of PETroleum...