Word: shales
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...nothing to ease the immediate OPEC squeeze, but its long-range effect will be important. Initially, Carter had called for a ten-year, $88 billion effort to construct a network of synfuel plants that could produce up to 2.5 million bbl. of crude oil per day out of coal, shale rock and tar sands. That would enable the nation to cut its projected consumption of imported oil about one-third by 1990. The House-Senate conferees accepted the ultimate goal of the program as set by the President but slowed the pace of spending. Instead of a crash effort that...
Adel F. Sarofim, professor of engineering at MIT and a director of the Exxon-sponsored research project, said yesterday one of the project's goals is to discover clean combustion techniques for fossil fuels such as coal, coal liquids, shale oil and heavy crude oil. The fuels now require heavy preliminary refining...
Last July Carter pledged to use the proceeds of his proposed tax to set up an Energy Security Corp. to help develop an enormous new industry for the production of gas and oil from alternative sources such as shale and coal. Other revenues were to go for bolstering mass transit, subsidizing energy conservation and helping poor people pay part of the increased cost of fuel...
Besides stricter conservation, one vital policy for the U.S. is to boost the use of coal and the production of syntheic fuels, including shale oil. The U.S. could be producing as much as 6 million bbl. of "synfuels" a day by 1990, equal to about 75% of all current imports. Jimmy Carter wants the financing for his own more modest synfuels program to come from his proposed windfall profits tax; it would be levied on the increased revenues that U.S. oil companies have been earning since price controls on oil began to be phased out last June. But Congress must...
...hungry world increased its call for what America produces best: food. Average farm incomes increased 117% from 1970 to $23,263 per family in 1978 and are higher now. The region that fared best of all was the intermountain West because it is a trove of oil, gas, coal, shale and almost all the increasingly precious energy resources. Construction cranes climbed like church spires in Denver, Salt Lake City and other booming communities...