Word: petroleum
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Even so, the U.S. continues to draw on nonrenewable fuels (petroleum, gas and coal) for 90% of its energy needs, not much below the 94% of 1973. The price and supply of oil worldwide remain very delicately balanced. Despite a frenzy of oilfield drilling set loose by oil decontrol, domestic production has actually slipped to 8.65 million bbl. daily, compared with 9.2 million in 1973. Now 30% more coal is being burned, but production of domestic natural gas declined by 18% in the decade. After six years, Washington's planned strategic petroleum reserve of 750 million bbl., which equals...
According to the indictment, crimes indeed took place. In 1980 and '81, Rich's domestic company and two Texas firms, West Texas Marketing of Abilene and Listo Petroleum of Houston, carried out an oil-laundering and profit-hiding scheme. In the first step of the process, Rich allegedly went to domestic producers and bought crude oil that had Government-controlled prices as low as $5 per bbl. Rich then supplied the oil to the Texas firms at the legal price. The Texas companies, according to federal officials, laundered the crude through a series of purchases so that...
...taxes to the government, and foreign loans help finance South Africa's purchases abroad. In addition although U.S, investments account for a relatively small proportion of total foreign capital in the country, it is concentrated in a number of key industries oil (constituting about 44 percent of the petroleum industry), automobiles and trucks (33 percent), and computers (roughly 70 percent). All of these industries, advocates of divestiture argue, are critically important to the South Africa government's capacity to maintain control and develop its economic and military strength...
...taxes to the government, and foreign loans help finance South Africa's purchases abroad. In addition, although U.S. investments account for a relatively small proportion of total foreign capital in the country, it is concentrated in a number of key industries oil (constituting about 44 percent of the petroleum industry), automobiles and trucks (33 percent), and computers (roughly 70 percent). All of these industries, advocates of divestiture argue, are critically important to the South African government's capacity to maintain control and develop its economic and military strength...
...Irish would be energy sultans. But because the republic (pop. 3.4 million) has almost no other known resources of fuel, it must satisfy 65% of its energy needs with imported oil. For more than a decade, Ireland has been green with envy over Britain's North Sea petroleum windfall and has searched vainly for its own bonanza. Lately, though, Dublin has been awash in a gusher of speculation about a discovery in the Celtic Sea, which separates Ireland and Britain. Last week the rumors proved to be valid. Gulf Oil acknowledged that a test well only 20 miles south...