Word: petroleum
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...mining around the Iranian oil refinery at Kharg Island or around the major port of Bushehr, two crucial harbors for Iranian sea trade. If more aggressive U.S. strikes were needed, particularly in retaliation for direct attacks on the tankers, bombers from the Constellation could hit Iranian airfields and key petroleum-refining installations with ease...
...Soviet pact spotlighted Iran's strategic importance. One of the world's leading oil producers, Iran (pop. 50 million) has more people than all the other gulf states combined and geographically dominates the richest petroleum- producing region on earth. The country is a vast land bridge between the gulf and the Soviets on the north, the Turks on the west, and the Asian nations of Afghanistan and Pakistan on the east. Washington rightfully views any increase in Soviet influence in Iran as worrisome indeed...
...silt sediments deposited from rivers, bays and inlets over the past 5,000 to 8,000 years. As the sediments gradually compress under their own weight, the surface sinks lower. On the Gulf Coast, a process called subsidence, caused in part by the extraction of groundwater and petroleum from subterranean layers of sand and clay, has forced the land, already virtually at sea level, to drop 3 ft. a century. In all, the coastline of the northeastern U.S. may recede an average of 200 ft. in the next 50 years; in some parts of Florida, where the land is flatter...
...lousy idea," sniped the Motor Vehicle Manufacturers Association. "Unwise and unwarranted," said the American Petroleum Institute. What caused Detroit and the oil industry to blow off steam last week were two Government proposals that could help cut down smog. The rules, put forth by the Environmental Protection Agency, would impose new controls on gasoline content and require improved pollution-control equipment on autos. Acknowledging that the proposals are "controversial," EPA Administrator Lee Thomas said oil companies and automakers "are going to have to spend additional money...
...Norman Conquest in 1066) studied law in Perth, in western Australia, and decided to settle there. But the young attorney hit his stride once he got into investing. Often underestimated by his opponents, the lanky Holmes a Court has since 1970 won control of transportation, entertainment, publishing, mining and petroleum concerns around the world. Today, with a net worth of some $250 million, he is reputedly Australia's wealthiest citizen. A reclusive investor, Holmes a Court prefers being at home with his wife Janet and four teenage children to hanging out at an executive watering hole. To relax, he plays...