Word: petroleum
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Dates: during 1970-1979
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...program in helping Hanoi. The country is drawing up a sophisticated foreign investment code that would allow production-sharing agreements on natural resources, including oil, and up to 49% capitalist participation in other enterprises. Moreover, a group of visiting Japanese oil prospectors has been given the curious news that petroleum development was reserved for "the American sector." Observes one U.S. banker: "All the signals are there. They want to get back into the ball game, and the U.S. is the key to that...
...even though domestic oil and natural gas are still under federal control. Retail fuel-oil prices are up about 10% from a year ago. One reason: dealers can raise prices to cover the costs of importing foreign oil-and the U.S. is now getting a record 44% of its petroleum from abroad. The Federal Power Commission last year allowed the top price of natural gas piped across state lines to jump from 52? per 1,000 cu. ft. to $1.44, in an effort to prompt more production. The Emergency Natural Gas Act passed this month permits gas-short areas...
...President's main emphasis is on stricter conservation of energy. In his fireside chat, he pointed out that the amount of energy now being wasted is greater than the total amount that is imported (in 1977 the U.S. is expected to import $41 billion more in petroleum products than it exports). Carter also called for more development of coal in "an environmentally sound way" and further research on solar energy. On atomic energy, he was cautious. He asked for "strict safeguards on necessary atomic energy production." Later in February, he pledged, he will ask Congress for help in combining...
Texas was having its worst January ever recorded. In Dallas the temperature hit 12° and the flow of natural gas in one of the nation's petroleum-richest states was curtailed to heavy industrial users. High winds aggravated the cold. Texans say they use logging chains fastened to stout posts as wind gauges-and this month the chains have been flying flat...
...Ford do it, if not to please his friends? He possibly felt that it is in the interest of the United States to assure control over the secret petroleum deposits off the north shore of the island, or perhaps he made an empty offer as a gambit in the forthcoming debates over Puerto Rico in the United Nations Decolonization Committee. He gave good reason to suspect the latter when he used his arrival at the economic summit as an occasion for warning Cuba that the United States would never relinquish Puerto Rico. If we take him at his word...