Word: shale
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Dates: during 1980-1989
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Their risky efforts paid off. The cliffs, part of a stratum of sedimentary shale and sandstone interleaved with volcanic basalt, date from between 225 million and 175 million years ago. The entire rock formation was long thought to be virtually devoid of fossils and thus of little interest to paleontologists. In fact, says Neil Shubin, 25, a graduate student in biology at Harvard, the site they discovered "looks like Rocky Road ice cream. It's dark rock absolutely splattered with bone." Says his partner, Geologist Paul Olsen, 32, of Columbia's Lamont-Doherty Geological Observatory: "We were shocked...
Many other bills are piling up fast for the oil companies. Last week Unocal posted a loss of $134.7 million for the fourth quarter of 1985. The company was hurt last year by the cost of fighting off Corporate Raider T. Boone Pickens and by its money-losing oil-shale plant in Colorado. While several big oil companies, including Exxon, Chevron and Mobil, showed earnings gains in the past quarter, most petroleum experts see a lean future. Says Constantine Fliakos, who follows the industry for Merrill Lynch: "The last good news in the oil patch was the fourth-quarter results...
...band attempting to cross over into the field of Lechmere background music, was formed by vocallist Terry Hall, formerly of the Specials (a decent two-tone band) and Fun Boy Three (a synth outfit that gave the Go-Gos their first hit, "Our Lips Are Sealed.") With bassist Karl Shale and guitarist Toby Lyons, Hall strikes out after something different with this group, and regrettably...
...talks he reveals the South's new reconstruction: carpetbaggers who ar rive by jet from the Middle East to buy whole islands, the latest styles in scalawags and gentrification. Simons revisits Charles ton's old Negro market and finds that things have changed: "Bats, rafters, shale, pee, lead paint, clothes wads, the stuck bar ber pole, chili in open pots, all went to dropped ceilings for energy saving, parquet, rest rooms, pastel, jean shops, international flags waving in front of a deli store, and food described on a blackboard...
Part of Denver's office glut reflects the collapse of the synfuels industry, which was to have produced high-cost fuels from shale, tar sands and other sources. Dozens of projects have been shelved in the face of falling energy prices. One of the largest was Exxon's multibillion-dollar Colony Shale Oil venture near Parachute, Colo., which was closed a year ago at a cost of 2,100 jobs. Recalls Allen Koeneke, president of the First National Bank in Rifle, Colo. (pop. 3,215), some 17 miles away: "When the news hit, we would have...