Word: petroleum
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Dates: during 1970-1979
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...North Sea fields coming ashore at the rate of 830,000 bbl. per day, the nation will produce about half of the oil that it consumes this year, saving some $3.6 billion in its balance of payments. Oilmen expect that the country will be come self-sufficient in petroleum by 1980. Said Prime Minister James Callaghan after a visit to the huge "Forties" field: "God has given us an opportunity we have not had in a century. When you think about the impact of this [oil] on the country's fortunes, it is really astounding...
Caltex is owned jointly by Texaco and Standard Oil of California. It operates a refinery in Cape Town, and markets petroleum products throughout the country. It also owns shares in two Southern Rhodesian marketing and refining companies. Caltex employs about 2000 workers in South Africa, about a third of them black. The average African wage in 1972 was $139 a month; the minimum...
...chairman of the Senate Finance Committee, said his committee "will not vote these big taxes" unless the receipts go not to consumers but for use in developing new sources of energy such as gas from coal. If the tax is passed without a rebate, consumer bills for fuel and petroleum-related products would be increased $12 billion annually...
...Chemical $12,227,949 Aluminum Co. of America $11,865,565 Union Carbide $11,068,724 U.S. Steel $10,915,154 Kimberly-Clark $10,676,454 International Nickel of Canada $10,502,593 Procter & Gamble $10,376,375 Continental Group $9,939,553 Smith, Kline $8,946,86 Phillips Petroleum $8,918,217 Standard Oil of Indiana $8,913,351 Dome Petroleum $8,635,656 Gulf $8,538,075 Pennzoil $8,280,000 Kingdom of Norway $8,072,510 Bristol-Myers $7,493,988 Johnson and Johnson $7,474,908 Texaco $7,463,485 Federated Department Stores...
These are dicey times for shipowners who play that gambler's game called tankers. As a result of the slowdown in the growth of petroleum consumption and some reckless overbuilding by shipyards in the early 1970s, the tanker business is in the worst depression in memory. Fully 10% of the world fleet sits idle for lack of cargo...