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...production upswing. Spurred on by voracious demand and fat prices, such oil giants as Exxon, Mobil and Texaco, along with a host of smaller firms, are scouring the earth from Malaysia to Newfoundland for fresh finds. Next month, activity in Peru's Amazon River jungle will reach boom tempo as Union Oil, Tenneco, Getty, Sun Oil, Transworld and other companies begin drilling for what many geologists believe is the world's largest unexplored oil deposit. The most promising recent strikes have been under the turbulent waters of the North Sea, which has proven deposits of more than...

Author: /time Magazine | Title: SUPPLY: Some Non-Arab Serendipity | 12/24/1973 | See Source »

...live with the shortage as a short-term thing," says Admiral Thomas Moorer, Chairman of the Joint Chiefs. "But if we continue at a lowered tempo, there will be progressive deterioration of combat readiness. We're just like a football team, and if you don't practice during the week, you may not be able to play the game on Saturday." Moorer has assigned top priority for oil to combat preparedness and training for critical units in the Mediterranean and Southeast Asia. Next call goes to basic training, flight training, maneuvers and proficiency exercises. Administrative and housekeeping functions...

Author: /time Magazine | Title: DEFENSE: Keeping the Military in Business | 12/10/1973 | See Source »

...shadows of the larger crisis have loomed over the U.S. for years. Back in the '50s, the Paley Report, commissioned by President Eisenhower, pinpointed a coming shortage of oil and coal. The warnings increased in tempo in the '60s. Biologist Paul Ehrlich was among the decade's many Cassandras. "Using straight mathematics," he now says, "what I was predicting then was foreseeable in the late '40s and early '50s. It was a case of simple multiplication-the number of people times what we were doing...

Author: /time Magazine | Title: Time Essay: What Went Wrong | 12/10/1973 | See Source »

...opening Overture from "The Marriage of Figaro" was brilliant. The piece is supposed to be exceptionally quick, and Baker certainly conducted it that way. But the orchestra was capable not only of playing up to tempo but playing smoothly up to tempo. It's just a shame that the highlight of the concert came so soon...

Author: By Ellen A. Cooper, | Title: Mozart at Midnight | 11/20/1973 | See Source »

...imperialism benefited only the capitalist class, and he assumed, following Marx, that the working class of European countries would recognize their bonds with each other and with the Third World. Thus they would prevent the outbreak of the coming war. Events initially seemed to bear him out: as the tempo of international crisis in the early years of the century became more brisk, the Second International of European socialist parties proudly and defiantly passed resolutions calling upon its members to resist imperialism, the armament race...

Author: By Daniel Swanson, | Title: Imperialism: Then, and Now | 11/16/1973 | See Source »

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