Word: petroleum
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Dates: during 1970-1979
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...line. If the big oil companies were gouging the American people, Baker declared, they risked nationalization. Baker was wildly against even the thought of such a measure, but as a professional pol he sensed an ugly mood. His warning nearly cracked the picture windows in Houston's Petroleum Club. Baker's mail showed...
Proclaiming the city's energy eminence are the names over the doors of its new office towers: Energy Center I, the Petroleum Building and Anaconda Tower (the old copper mining company, now owned by Atlantic Richfield oil, is big in uranium). Construction of a 36-story Amoco Tower and a 23-story Energy Plaza will be completed next year. In all, 27 major office buildings are now going up. Work on two dozen more office complexes will begin in 1980. All this has transformed the once unimpressive skyline of Denver...
...last week conceded that prices would probably climb by about 11% during the year, just about the same as in 1978. Unanticipated large-scale Soviet grain purchases in the U.S. market are part of the reason, but food prices will also rise because of the escalating cost of petroleum products used by farmers and food processors...
Even if Congress rejects some parts of Jimmy Carter's ambitious new design, the rising price of petroleum seems destined to awaken the nation from its energy stupor. As the cost of crude climbs, more and more technologies-some of them new and exotic, others as familiar as moonshine stills and windjammer sailing ships-are beginning to come on stream to conserve fuel and produce energy for the 1980s from unconventional sources. Clever inventors and canny investors see prospects of becoming instant energy millionaires. Long stagnant industries such as coal and steel stand to recover and prosper. Resource-rich...
...area. To produce a barrel of oil, about 1½ tons of rock must be mined and heated. So far, the process requires huge amounts of water -scarce in the West-and leaves huge piles of ashlike rubble. To avoid mining and the problems it brings, Occidental Petroleum is testing a new method. Fires are started in underground mines to separate the oil into pools; then it is pumped to the surface. That technique is promising but far from perfected...