Word: petroleum
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...civil war among the shareholders of Gulf Oil, the leaders of the opposing camps both speak with Southern accents, but there the similarities end. The challenger, Chairman T. Boone Pickens Jr., 55, of Mesa Petroleum in Amarillo, is a dashing, salty Texas oilman who delights in telling earthy jokes. The defender, Gulf Chairman James E. Lee, 61, is a bald, straitlaced native of Mississippi who sometimes leads prayers before gatherings of his board of directors. While Lee has spent his whole career plodding through Gulfs corporate ranks, Pickens is a free-spirited dealmaker whose company has bought and sold stakes...
Some customers said they had been attracted by the prestigious company that the Sentinel concerns kept. Sentinel was a client of the prominent Wall Street law firm of Cadwalader, Wickersham & Taft, which has also counseled the likes of Holiday Inns, Occidental Petroleum and the Federal Home Loan Mortgage Corporation. Peat, Marwick, Mitchell...
When the Organization of Petroleum Exporting Countries (OPEC), as part of its opposition to Western support of Israel, instituted its oil embargo against the West, it sought support from other international groups. An informal working alliance developed in the United Nations between anti-Israeli Arabs and the anti-apartheid forces of Black Africa. The result was a two-pronged attack against Israel and South Africa...Throughout the 1960s Israel pursued an active policy of friendship with Black Africa, and offered technical and economic aid...After the emergence of the alliance between Black Africa and the Arab world in 1973, however...
Indonesia, a big oil exporter that was hurt this year by the dip in petroleum prices, is trying to keep its $24 billion foreign debt from ballooning. The country has devalued its currency by 28% to reduce imports and postponed several industrial projects, including petrochemical plants...
...difficulties. The worst is a shortage of sealift and airlift capacity, brought on because the Navy and Air Force for decades have preferred to spend their money on combat hardware rather than on cargo ships and planes. Since 1981, the number of U.S. "mobile logistics ships" (vessels that carry petroleum, ammunition and other cargo to resupply battle fleets at sea) has increased by exactly one, from 72 to 73. Some 50 new transport planes are on order to supplement the present fleet of 70 C-5A Galaxies and 234 C-141 Star-Lifters. But the new planes will not begin...