Word: petroleum
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Dates: during 1970-1979
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From Saudi Arabia to Sumatra, from Nigeria to the North Sea, up comes the oil. And every day, 24 hours a day?at a rate of 30,000 gallons per second?the petroleum-thirsting world swills it back down in desperate, energizing gulps...
...paper, the U.S. at long last seems to be tempering its petroleum profligacy. Annual growth in demand subsided from 5% as recently as 1977 to 2% last year. But nearly all the improvement has come from conservation by industry, while individuals blithely go along wasting fuel. Not only has demand for gasoline, which accounts for one-third of the nation's fuel bill, continued to grow fast, but U.S. dependence on foreign oil has increased by nearly 50% since the 1973-74 Arab oil embargo, and this year will reach some $50 billion...
...futile search for oil in the Baltimore Canyon area of the Atlantic. Though preliminary seismic studies were not encouraging, the company went ahead anyway. The decision was made partly on the grounds that it could not be seen as declining to explore in an area so close to the petroleum-hungry Northeast...
...that can be extracted from coal, and the petroleum that lies trapped in shale rock. Fifteen percent or so would be spent on aid to low-income families that would suffer from rising fuel prices. The remaining 5% would go for further development of the nation's mass-transit system...
...situation is truly as serious as Jimmy Carter claims it is [April 16], then when is he going to declare a real war on the problem-proclaiming a state of emergency and totally mobilizing all our energy resources? Is handing over billions of dollars in windfall profits to the petroleum industry his idea (and that of Congress) of a "moral equivalent...