Word: petroleum
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Dates: during 1970-1979
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...million per year). Nonetheless, India's recent gains have been impressive. Last year, for instance, largely because of the high prices of imported food, fertilizer and oil, the country suffered a record trade deficit of $1.2 billion. Now, as a result of an intensive campaign of exploration, some petroleum experts believe India can be self-supporting in crude...
...been a matter of quiet but earnest concern among oilmen and federal officials, who are faced with what may be the biggest problem yet to hit the trouble-plagued project. An urgent audit carried out by the eight-company pipeline consortium, which includes Exxon, Atlantic Richfield and British Petroleum, has revealed 3,955 "problem welds" in the pipeline, which is still only half completed. If Washington decides that the trouble is serious enough to require a major inspection and repair job, it could cost the oil companies as much as $60 million and prevent the opening of the vital project...
Compared with past meetings of the 13-nation Organization of Petroleum Exporting Countries, last week's session on Indonesia's storied tropical island of Bali was relatively pacific. But disagreement ran deep. After two days of trying to determine whether or not to end the nine-month freeze on world oil prices, the ministers were unable to reach a decision, which in the case of prices requires the unanimous support of member oil-producing nations. As a result, the price of crude oil will remain at its present levels, but for how long is by no means certain...
...Algeria, Libya and Venezuela. They argued for a price boost of 10% to 15% on grounds that inflation in the industrial nations has eaten into OPEC'S buying power. Iran, which has huge development bills to pay, has been badly hurt by the recession-induced drop in world petroleum demand and the consequent fall-off in oil revenues...
...incorporate this gene into the genetic material of plants like corn. These and other efforts to give grain plants the capability of nitrogen fixation could, if successful, increase the yield of plants and reduce the need for chemical fertilizers. Nitrogen fertilizers require large quantities of natural gas and petroleum to produce...