Word: rising
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Dates: during 1970-1979
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...direct interest in oil companies, I think it would be fair to say that if prices had been allowed to rise gradually for the past seven years, these "sinful" and "pornographic" profits would have been acceptable. Also, small cars would have been in demand sooner, energy conservation materials would not be suddenly scarce, other forms of energy would be more advanced, oil exploration would be up, and oil imports would not have reached the current high levels...
...concern focused primarily on what effect the boycott of Iranian oil would have on the domestic economy. Would long gasoline lines return? Would prices for fuels of all sorts take another breathless leap? Would inflation surge, interest rates rise and the economy slip deeper into recession...
...risen by about 45%, to a current national average of $1.01 per gal. Daniel Lundberg, whose Lundberg Letter is widely regarded as the most reliable gauge of gasoline marketing trends, figures that prices are poised to jump to $1.18 per gal. by year's end, a startling 17% rise in a little more than a month. Reason: with the troubles in Iran, big industrial users of oil as well as gasoline will now begin building up their stockpiles and tightening the market, sending prices soaring. That will put a pinch on the already strained budgets of families everywhere...
...substantial risk" of a drop in OPEC output of as much as 3 million bbl., an amount just about equal to total current Iranian production. The drop would be caused by expected cutbacks early next year by Saudi Arabia, Kuwait, Iraq, Nigeria and Libya. Thus oil prices stand to rise considerably even if Iran does not reduce its current production...
Shouting against the windfall profits tax, oilmen tirelessly contend that higher earnings will motivate them to search harder for oil and gas. Sure enough, as oil profits have marched up this year, so has domestic exploration. Steel drilling rigs, eight and ten stories high, are rising at muddy, cluttered sites from the Rocky Mountain foothills to Louisiana's Cajun country. Although domestic production is not expected to rise in years ahead, the new activity will keep it higher than it otherwise might have been. And there is always the possibility, however slight, that oilmen may get lucky and strike...