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...year, President Carter leaned heavily on a CIA forecast for his ominous prediction that depletion of all of the proven reserves "in the entire world" could begin by the end of the 1980s. Now comes another CIA report, this one prepared by Richard Nehring, a policy analyst for the Rand Corp., which concludes that doomsday is considerably further...

Author: /time Magazine | Title: Business: Oil: What's Left out There | 10/16/1978 | See Source »

...present rates of consumption, the Rand researcher says, there is enough oil around the world that is recoverable through conventional drilling to last for 60 to 90 years. If demand does increase and supplies are being used up more quickly, Rand experts believe that energy requirements could still be met through conservation measures and the use of special techniques to squeeze more oil out of existing reserves...

Author: /time Magazine | Title: Business: Oil: What's Left out There | 10/16/1978 | See Source »

Among the energy optimists, the rosiest view is offered by Dutch Economist Peter Odell, who has concluded that world oil reserves, including deposits in deep sea areas and the polar regions, stand at 4,500 billion bbl., or seven times current proven reserves. That is also well above the Rand Corp.'s estimate, which puts the reserves within a range of 1,700 billion bbl. to 2,300 billion bbl. Odell argues that the size of some known fields has been greatly underrated, notably the North Sea and Orinoco Oil Belt, whose resources he believes are even "greater than...

Author: /time Magazine | Title: Business: Oil: What's Left out There | 10/16/1978 | See Source »

...largest of Engelhard's stakes, however, was in the South African gold mining industry, which for decades has mined sub-economic gold by employing Africans at wages half the poverty datum level. Largely through his chairmanship and stock holdings in Rand Mines, Engelhard's interests controlled an estimated 15 per cent of South African gold mining industry during the '60s. Indeed, it was through his entry into the South African gold industry during the early '50s that Engelhard first started to turn his father's relatively modest metals business into a global powerhouse. Setting himself up as a bullion dealer...

Author: By Jonathan D. Ratner, | Title: Goldfinger Buys a Library | 10/13/1978 | See Source »

...Sally Rand, septuagenarian fan dancer, when asked after a recent performance whether she really wears nothing beneath her ostrich plumes: "It doesn't much matter. The Rand is quicker than...

Author: /time Magazine | Title: People, Oct. 9, 1978 | 10/9/1978 | See Source »

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