Word: spurs
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Dates: during 1970-1979
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...Another spur is that profits of ten of the largest oil companies increased an average of 94% in this year's third quarter, and managers have attempted to divert public criticism by pumping up exploration budgets. A number of independents are still holding back until the windfall profits tax reaches final form. The Senate has proposed that newly discovered oil and certain categories of low-volume wells be exempt. Some oilmen hope that the first 1,000 bbl. per day from an independent producer's well will be free from the tax. Says Jack Allen, president...
...decontrol. When Carter decided on decontrol, Kennedy criticized him for failing to make his decision conditional on a strong profits tax. Recently, he has said that Carter should veto a weak tax and reimpose controls. He has taken these positions on the grounds that decontrol is not needed to spur new exploration, and that there are more equitable and efficient ways to encourage conservation...
...House and Senate windfall profits tax bills will soon go to a conference committee; compromise legislation to form the Energy Mobilization Board is on the verge of being worked out; and the Senate now seems ready to approve the creation of the Energy Security Corporation, which is to spur the building of synthetic-fuel plants...
...domestic drilling is booming. The number of oil rigs at work in the U.S. has jumped from 1,929 in April to 2,391 at present and is expected to reach 2,600 by year's end. It is highly questionable whether stiffer controls or nationalization would spur more efficiency. The record of the Post Office and the heavily regulated railroads is hardly encouraging...
...will be getting mad not about South Africa, but about the price of lettuce. South Africa is an important issue, but people haven't shaken their fists enough about inflation," he says. If they do, then Cabot believes the government could launch a crash energy development program that would spur the economy, like the space program in the 1960s...