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Such unrestrained power holds enormous promise. Engineers estimate that by 1980, geothermal energy could be generating as much as 10% of the total electrical output of the U.S. And no matter how much is used, the heat is not likely to be used up. Once scientists master the technology, they should be able to recirculate condensed steam back into the ground, giving virtually unlimited life to wells in states as dry as Nevada. Even without such re-circulation, Italy's 64-year-old Larderello geothermal-power plant near Siena, where fumaroles gave Dante earthly inspiration for his Inferno...

Author: /time Magazine | Title: Geophysics: Percolators in the Earth | 7/26/1968 | See Source »

Going into the second half of 1968, the Commerce Department last week reported that in the first six months of the year, the U.S. economy grew at a real rate (i.e., not including inflation) of 5%. In the second quarter, the nation's output of goods and services increased by $19.6 billion, which was only a shade under the first quarter's record $20.2 billion. Corporate profits more than kept up the brisk pace. Among the early reports...

Author: /time Magazine | Title: Earnings: The First Half | 7/26/1968 | See Source »

...memory is faulty. We didn't bring 150,000 tons of fertilizer into Corps in 1967; it was more like 12-13,000 tons. Second, I was stressing the importance of using fertilizer to counteract precisely the type of production decline which Corson cites. Without fertilizer, rice output in I Corps would have declined even further. I learned a long time ago that just because a statement appears between hard covers in a book does not make it true. Corson's book is replete with allegation, short on fact...

Author: /time Magazine | Title: Letters: Jul. 12, 1968 | 7/12/1968 | See Source »

...demand that their salaries be doubled to $31,000 a year. BOAC Chairman Sir Giles Guthrie calls the pilots "spoiled children." A three-week-old wildcat strike by 187 female upholstery stitchers has shut down British Ford's huge Dagenham plant, idling 5,000 workers and interrupting the output of autos for the export trade that Britain must increase for its economic survival...

Author: /time Magazine | Title: Britain: How Not to Tame a Wildcat | 7/5/1968 | See Source »

...Color-television manufacturers so underestimated their market-figuring that it would build as slowly as black and white television did-that they were unable to keep up with sales. Now one bottleneck has been solved with increased production of picture tubes and another by stepping up the output of cabinets. But if anything goes wrong with the set, the owner will soon discover that there is a drastic shortage of people...

Author: /time Magazine | Title: Business: THE PERILS OF UNDERESTIMATION | 7/5/1968 | See Source »

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