Word: petroleum
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Dates: during 1970-1979
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Walter Levy, 67, is the dean of petroleum consultants, a self-taught economist, tax expert and political scientist who advises oil companies and governments...
...white-sand harbor northeast of Saigon that served as the main U.S. Navy base in the Viet Nam War. Having rights to Cam Ranh would give the Soviets a dramatic new naval advantage and would pose a potential threat to Chinese and Western shipping lanes, especially Japan's petroleum lifeline through the Strait of Malacca. But with no overt Soviet moves by week's end, Western observers remained hopeful that Hanoi's independent-minded leaders would surely think twice before granting Moscow so strategic a foothold in Southeast Asia...
...learned anything from its energy agonies? Apparently not. Five years after the Arab embargo gripped the nation in petroleum paralysis, the economy remains as vulnerable as ever to upheavals in faraway lands. All winter long the turmoil in Iran has brought chilling reminders of that fact, and last week came some of the scariest yet. It was hard to tell which were more frightening: signs that oil prices were about ready to leap again, or Washington's seeming impotence and inaction...
...export production from 5.5 million barrels a day to zero, the country's 27,000 drillers, engineers, technicians and other oil workers began returning to their jobs. In the fields of Marun and Ahwax Asmari, in the refineries of Abadan, and at the pumping center of Ahvaz, precious petroleum is beginning to flow anew as the industry struggles to resume limited export production...
...would resume exports, than he was telling cheering oil field workers that Iran would be raising prices by as much as 50%, to $18 to $20 a barrel. At the same time, said Nazih, the Country would cease dealing with the London-based oil consortium', headed by British Petroleum, that has exclusive long-term contracts to buy NIOC exports...