Word: tar
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Dates: during 1970-1979
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...from a small town on the sandy banks of the Pamlico River? Because North Carolina is basketball country, that's why. It is a state where few issues besides tobacco prices and Joe Califano's antismoking campaign can generate as much passionate controversy as basketball. To Tar Heels, especially those in obscure backwaters like Washington (pop. 9,000), young men like Dominique Wilkins tend to be regarded as state monuments. Dominique is 6 ft. 7 in. tall. He can hang in the air like a bat and do things with a basketball that Dr. James Naismith, who invented...
Welcome to booming Alberta, the Texas-size province that contains roughly 85% of Canada's proven oil and gas reserves, half of its coal, some major untapped hydropower sites, and vast, oil-bearing tar sands...
...makes major loans to other provinces (at competitive rates), but its main purpose is to bankroll Alberta's economic future. The provincial government has acquired its own Pacific Western Airlines; set up a local company to invest in all forms of energy, including oil from the thick, gummy tar sands; and offers fat incentives to new firms willing to open up in smaller communities...
...proven reserves of 28.5 billion bbl., and Mexico has 16 billion bbl.) Most significant, Alberta has huge additional "unconventional" sources of energy that are not yet economical to tap but will become increasingly feasible -and necessary-as oil prices rise. The basic sources are heavy bitumen oil and the tar sands, which together could provide as much as 320 billion bbl., or enough to supply the entire world demand for some 15 years at current rates...
...producers, Suncor and the Syncrude consortium, are turning out a total of some 150,000 bbl. a day from tar sands. A group headed by Shell has won approval for another project that will cost close to $5 billion and help lift output from the sands to an expected 500,000 bbl. daily by 1985. Meanwhile, Exxon's Imperial Oil plans to spend more than $5 billion to produce oil from heavy crude. These projects may be stretched out if some recent finds of conventional petroleum elsewhere prove more financially attractive. Some oilmen believe that two offshore strikes...