Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...appeal of earmarking has attracted interest even from private developers. In Los Angeles the Occidental Petroleum Corp. has sponsored a ballot initiative to allow it to drill for oil near fashionable Pacific Palisades. The proposal upsets local homeowners, but Occidental has plans to offset their votes: the oil company pledges to pay taxes estimated to exceed $60 million a year for the police, $40 million for city hall and $25 million for the schools. All earmarked, of course...
...perhaps he shouldn't. During the late 1970's, at the peak of OPEC's power, the term "energy crisis" was on everyone's lips. The long lines and high prices at the gas station were painful, daily reminders that the world is running out of petroleum...
When we equated "the energy crisis" with "the high cost of gasoline," we erred seriously. Gas prices are lower now, but the real crisis--petroleum depletion--is still with us and is worse than ever...
Since the United States began drilling for petroleum, we have used 121 billion barrels. Today's technology can extract only about 27 billion more. If we develop more advanced extraction techniques, like recovering oil from shale, we can reach another 18-53 billion barrels...
...time to address the neglected problem of petroleum depletion, before another energy shortage strikes. We must subsidize research for new recovery techniques, synthetic fuel and alternative energy sources. More importantly, we must renew the campaign to reduce demand for energy through conservation...