Word: petroleum
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...Anyi, then a senior manager in the Ministry of Petroleum, found himself a target because he had worked on Taiwan prior to choosing to return to the mainland shortly before the Communist takeover in 1949. "The Red Guards branded me as a big capitalist and an undercover ((Taiwan)) spy," Liu, 71, recalls with a wry smile. "They kept me in solitary confinement for over a year and later organized a pictorial exhibit of my crimes." These included photos of various articles of Western-style dress belonging to Liu and his wife that Red Guards had found in the course...
...years to do so. Says Jeanne Wirka, a solid-waste expert at Environmental Action in Washington: "There are newspapers that have been dug up in landfills that are 30 years old and still can be read." Another decided drawback to the degradable material is that it is made from petroleum, a dwindling resource. Says Wirka: "Degradable plastics are a sham...
...South Africa, had staunchly refused to join the more than 170 American companies, including Exxon and General Motors, that have closed their operations in that country because of its racial policies. But last week Mobil announced that it is also pulling out. The firm will sell its $400 million petroleum refining and marketing operations to General Mining Union Corp., a South African firm, for $155 million...
Mallightco bought a 4% interest in an oil-and-gas well known as Sabine Lake Prospect for $9,120. On the very day the purchase became final -- May 10, 1988 -- Mallightco resold the interest to Union Rheinische Petroleum Inc., a West German company, for $440,000. The well at the time showed some prospect of becoming a commercial producer but has since been plugged. Wright's trustee then sold the Speaker's interest in Mallightco for $350,000, less $80,000 to pay off debts to the firm -- a handsome profit from a hopeless dry hole. Wright insists he knew...
Onoar cited a Bahrain government report that predicted that by 1992, 90 percent of the oil in the world will be produced by the Organization of Petroleum Exporting Countries (OPEC). At the same time, the United States will be importing 60 percent of the oil it uses, he says...