Word: petroleum
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Dates: during 1970-1979
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...rare unity. As recently as the mid-1960s, the oil companies could play the exporting countries off against one another, often driving down demands from one government by threatening to buy more oil from others. But in negotiations beginning in 1969, the eleven members of the Organization of Petroleum Exporting Countries (OPEC)* overcame their vast political and social differences. For the first time, they formed an oil suppliers' cartel, which now provides more than 85% of Europe's oil and 90% of Japan's. The U.S. imports 23% of its oil, mostly from Venezuela, and by some...
...deposits under the ocean floor. One of the hottest exploration areas stretches along the Atlantic Coast from Maine to North Carolina, ranging from 50 miles to 300 miles offshore. Oilmen estimate that that area of the continental shelf may hold between 122 billion and 169 billion bbl. in potential petroleum resources-roughly 25 to 30 times as much as the U.S. consumes yearly. But a classic battle is shaping up between oilmen and environmentalists over whether to develop this possible resource...
...city. Connected to West Berlin by a one-lane, 800-meter road, Eiskeller (Ice Cellar) belongs to the Spandau district in the British sector. The shoulderless roadway is so narrow that no gas or electric lines can be installed: though it is the coldest part of the city, petroleum for both light and heat must be trucked in. Nonresidents must travel the dirt road under British escort, because Vopos lurk just off the roadway in case anybody accidentally "invades" East German territory. Ten years ago, the Vopos so harassed and frightened a young Eiskeller boy whenever he bicycled...
...Boeing has hardly taken the company out of the skies. On the contrary, Boeing engineers are producing ever more spectacular aircraft designs, including one for a twelve-engine "brute lifter" three times the size of the 747 jet that could haul, for example, 8,000 bbl. of crude petroleum. Recent successes in aerospace sales accounted for almost all of the company's nine-month earnings of $18.2 million this year, up nearly $1,000,000 over the same period in 1970. But Boeing's new outlook may well provide a striking glimpse into the future. As the troubled...
Piccard estimated that what he calls Homo technicus releases between 5,000,000 and 10,000,000 tons of polluting petroleum products every year to float on the seas' sensitive surface. Up to 1.8 million tons come from automobile exhaust emissions which rise into the atmosphere and eventually precipitate onto the ocean surface. Tankers spill another million. The world's polluted rivers spew out the rest...