Word: wellheads
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Dates: during 1970-1979
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...control 40% of the world's proven oil reserves. The primary target would be Saudi Arabia, which has 56.5% of this oil. According to the plan, the Saudis would be overwhelmed by a U.S. air-sea strike force prepared to hurl four divisions of troops at the Ghawar wellhead and the loading jetties of the U.S.-built oil facility at Dhahran...
Seven Steps. In his State of the Union II, Nixon also presented proposals to alleviate the energy crisis. He recommended seven steps, including construction of the Alaskan oil pipeline, deregulation of natural-gas prices at the wellhead - a step that would surely force prices sharply upward - and the funding of further research into coal gasification and other new energy sources. Finally, Nixon urged Congress to take action on a whole series of domes tic programs, including the better-schools bill and the better-communities bill, two revenue-sharing measures that would transfer from federal to local authorities much...
...newly diverted into interstate commerce. In addition, gas from fields in which long-term contracts have expired would be exempt from controls. The effect, Administration experts say, would be to spur more exploration, without significantly increasing the gas prices. They explain that the price of deregulated gas at the wellhead (which is only 10% to 20% of delivered cost) will be averaged in with regulated gas, resulting in minor price increases...