Word: pumps
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Dates: during 1980-1989
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Ever since Libya became the personal fiefdom and fortress of Colonel Muammar Gaddafi in 1969, it has been a treacherous place for Western oil companies to pump crude. In 1973 Gaddafi seized a 51% share of all U.S. oil operations in Libya and threw Texas Oilman Bunker Hunt out of the country altogether. But last week an oil company reversed roles and walked out on the colonel. Exxon announced that it was withdrawing all its oil and gas operations from Libya. The company will turn over to Gaddafi its 49% stake in oilfields capable of producing...
Besides drawing the Saudis further into the Middle East peace process, the U.S. hopes they will continue to pump large supplies of oil at steady prices, and join at least a tacit American-sponsored "strategic consensus" to deter Soviet thrusts into the region. But approval of the arms sale by no means guarantees that these American dreams will come true. A day after the Senate vote, at a meeting of the OPEC cartel in Geneva, the Saudis went along with a pricing agreement that would lower the top prices charged by some members but would also increase the cost...
...license had just been revoked by the Board of Alderman. It seems the police chief had been going from shop to shop in late September with a request that the stores close on account of the Garfield obsequies: when he came to Haggerty's business, he noticed the beer pump dripping and saw several men standing at a counter drinking. Though not positive, the officer throught they were drinking ale. Since city laws prohibited a grocer from serving liquor on the premises, the officer brought the case before the Board...
Though Haggerty denied the charges--the men, he said, were drinking cider, the pump, he explained, had been used to fill some bottles which a woman had purchased but a few moments earlier--the Aldermen took away his permit. "In any other case but a liquor case," the Chronicle observed, "the evidence given by the defense would have outweighed that of the accusing officer." But liquor in Cambridge in 1881 was not just another case...
...Libya's and Algeria's $40 per bbl. Last week the 13-nation Organization of Petroleum Exporting Countries announced that it was calling a special meeting for this week in Geneva. Out of it could come an agreement by the Saudis, who pump almost half of OPEC's total production, to raise the price of their crude by $2, to $34 per bbl., re-establishing that as the new, and lower, "official" OPEC price. With overall prices lower, Petroleum Expert Walter Levy warns that the incentive to find and develop alternatives to imported oil will decrease, making...