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...nays appear to have it. William O'Keefe, executive vice-president of the American Petroleum Institute, the voice of the U.S. oil giants, calls a new gasoline tax the worst choice of the lot because it could clobber regions where people drive long miles and would be "extremely regressive." The American Trucking Associations has sent out bulletins to 35,000 trucking companies to begin mobilizing for battle. "We're loading guns," spokesman John Doyle told the Wall Street Journal. The threat of a tax hike worries individuals like Rebecca Harrison, who owns a Los Angeles flooring company with four trucks...

Author: /time Magazine | Title: Why Not a Gas Tax? | 2/15/1993 | See Source »

British Transport Secretary John MacGregor called the prevalence of substandard vessels an "international disgrace" -- a statement corroborated, oddly enough, by the oil industry. A report by Shell Petroleum indicated that 20% of the world's oil fleet was suitable only for "the scrapyard." At the moment, the world's seaways are becoming scrap-yards. Even as politicians debated what to do, the Maersk Navigator, a Danish supertanker that collided with a ship near Sumatra two weeks ago, was still burning -- and still spewing...

Author: /time Magazine | Title: Tarnished Tankers | 2/8/1993 | See Source »

...beginning of a decade of galling frustration. They were to have precious few playoff opportunities to put on their ten-gallon hats and lizard-skin boots, pose by their pickups and act nasty. Or ogle the Dallas Cowboy Cheerleaders as they sashayed their postseason routines across the hallowed petroleum-byproduct turf at Texas Stadium. Instead, there was Sunday upon Sunday filled with ignominy and gloom. No divisional championships. No Super Bowls...

Author: /time Magazine | Title: The Quest for Redemption | 2/1/1993 | See Source »

...ironies of the Persian Gulf spill, which some experts predicted would destroy the area's ecosystem, is that certain parts seem cleaner and healthier now than they were before the Iraqis dumped their crude. According to a study published last August in the journal Nature, the levels of petroleum hydrocarbons in sediments and some mollusks from Bahrain in June 1991 were lower than those recorded in prewar surveys. Scientists suspect that the reason for this startling finding is that during and after the war, tanker traffic in the gulf was cut back. "Normal" oil pollution, largely from tankers clearing their...

Author: /time Magazine | Title: Resilient Sea | 1/25/1993 | See Source »

...piecing together the sulfurous origins of Carlsbad and other caves, speleologists have done more than satisfy scientific curiosity. They have also laid the foundation for some promising new ideas in oil exploration. Hydrogen sulfide, which is sometimes emitted as buried organic material decomposes, often appears in petroleum fields. Core samples of rock produced during drilling suggest that some oil and gas deposits are trapped within ancient cave systems that formed hundreds of millions of years ago. "So, about five years ago, some of us started looking in modern caves to see what they could tell us about where to hunt...

Author: /time Magazine | Title: Subterranean Secrets | 11/30/1992 | See Source »

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