Word: petroleum
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Every day in the U.S. the chemical and petroleum industries produce about 275 million gal. of gasoline, 2.5 million lbs. of pesticides and herbicides, and nearly 723,000 tons of dangerous wastes. Some 250,000 loads of hazardous materials, chiefly petrochemicals, are shipped across the country by rail or road. Considering the volume of this production and movement, fatal accidents are few, just eight deaths last year. One reason, contends the chemical industry, is its elaborate and expensive safety precautions. Says Bruce Karrh, a physician who is also vice president for safety, health and environmental affairs for Du Pont...
...dealing with in a spill, and what to do about it. CHEMTREC'S files contain information on 60,000 substances. Its communications lines can link fire fighters and company experts in transcontinental conference calls. For spills of unusually hazardous materials, such as cyanide, chlorine, vinyl chloride and liquefied petroleum gas, chemical manufacturers use CHEMTREC as a communications command center. Dispatchers will then notify the technical team closest to the spill...
From South Africa's viewpoint, U.S. holdings loom large. American companies control nearly 70% of the nation's computer industry and one-half of its petroleum business. Yet from the U.S. perspective, the activity is relatively small. Although bank loans amount to $3.88 billion and stock holdings in South African companies to $7.6 billion, direct investment of U.S. corporations was only $2.3 billion at the end of last year. That is a mere 1% of all U.S. corporate investment abroad...
...During a cordial but "extremely frank" meeting, as one participant described it, ministers from Iran, Venezuela and Algeria lambasted their Nigerian colleague for helping to set off the crisis. Citing Nigeria's dire economic woes, Oil Minister Tarn David-West rebuffed pressure to restore his country's petroleum price or to cut its production target "by even one barrel." Said he: "Oil is the life of Nigeria. The Nigerian heart must pump...
...million bbl. More important, Sheik Ahmed Zaki Yamani, the Saudi Oil Minister, promised to trim production even further, if necessary, to hold the line on prices. Other OPEC members, except Nigeria and Iraq, grudgingly accepted reductions of about 9% each. Two non-OPEC oil producers, Egypt and Mexico, whose petroleum ministers attended some of last week's sessions as observers, promised to help the OPEC effort by making small, symbolic cutbacks of their own. Sheik Saad al-Abdullah al-Sabah, Kuwait's Prime Minister, praised the accord as a show of unity. Said he: "I have no doubt...