Word: petroleum
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Dates: during 1970-1979
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...billion and help lift output from the sands to an expected 500,000 bbl. daily by 1985. Meanwhile, Exxon's Imperial Oil plans to spend more than $5 billion to produce oil from heavy crude. These projects may be stretched out if some recent finds of conventional petroleum elsewhere prove more financially attractive. Some oilmen believe that two offshore strikes, in the Arctic's Beaufort Sea and along the Newfoundland coast, could prove to be of Middle East proportions...
...Frank Tivan, associate director of the Massachusetts Petroleum Council, cited offshore operations in the North Sea, Alaska and the Gulf of Mexico as proof that drilling does not damage the ocean environment. "The catch of fish in the North Sea has increased four times. Rigs didn't impede the fishing industry," Tivan said...
Bradshaw said former energy policies relied too heavily on foreign oil and the break-up of the Organization of Petroleum Exporting Countries. These programs immeasurably harmed U.S. economy, he added...
...greater show of force seems called for, one possibility is that the fleet would blockade the narrow Straits of Hormuz, through which tankers carry Iran's oil to foreign markets. A blockade would cut off Iran's international revenues, but it would also produce a serious world shortage of petroleum and a sharp increase in prices...
...largest concentration of Iranian students is in the West and Southwest, where they often study engineering and petroleum-related subjects. The percentage of Iranians at some schools is surprisingly high. At Texas Southern University there are 900 Iranians out of a student body of 10,000. At the University of Southern California in Los Angeles, an enrollment of 28,000 includes 900 Iranians. Woodbury University in Los Angeles has 700 Iranians among 1,400 students...