Word: tankersful
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Japan is the terminus for a floating pipeline, a long convoy of supertankers that stretches 6,500 miles from the Persian Gulf through the Strait of Malacca, into the South China Sea and finally to Japanese ports. From those tankers and others pour 99.8% of the country's oil...
During the election campaign last year Presidential Candidate Miguel de la Madrid pledged to bring about a "moral renovation" of Mexican society, including the investigation of former officials for corruption. In his seven months as President, however, De la Madrid has been criticized for moving slowly against suspect members of...
While smaller firms have been the main victims of the oil collapse, the major companies have been feeling the pain as well. In their case, however, it has taken the form of lower profits rather than bankruptcies and losses. Earnings for the two dozen largest oil producers fell to an...
Critics charge Arco with imaginative bookkeeping. North Slope oil carries a federal windfall tax averaging about 68%. State charges add another 23%, for a total of 91%. If a company can juggle its books to transfer profits from its drilling operations to other areas, it can reduce the amount that...
More and more Caribbean nations are tearing up irreplaceable rain forests to plant such export crops as bananas, sugar cane, tobacco, coffee and cacao. On the sea, tankers, carrying oil from Venezuela and more distant shores, crisscross the Caribbean; as much as half of the U.S.'s imported oil...