Word: petroleum
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...rocketing cost of petroleum pushes electrical utility rates further and further into orbit, "windmill power" is becoming a good bet. In Clayton, N. Mex., 15% of the town's residents now receive their electricity from a giant propeller-like windmill that swivels on a horizontal axis to capture the prevailing winds. In the Berkshires of western Massachusetts, retired Businessman Percy Newbery, 58, is generating an average of $30 worth of electricity per month by means of a windmill device that looks like a jet engine and sits on a 75-ft. wooden pole beside his house. In Hawaii, Puerto...
...time OSHA was functioning in 1971, the Government and industry had agreed on a benzene standard of 10 parts per million (p.p.m.) in the air in workplaces. OSHA, concerned about new evidence that breathing benzene vapors could cause leukemia, slashed the standard in 1978 to 1 p.p.m. The American Petroleum Institute contended that OSHA was forcing industry to spend $500 million or more to meet a standard that it had not proved to be any safer than...
Bankers still do not mention it in the same breath with Tokyo, Zurich, London or New York. But some day they may. Bahrain, a small Arabian Gulf island sheikdom off the oil-rich coast of Saudi Arabia, is rapidly becoming an important financial center. Since the 1973 quadrupling of petroleum prices, 120 banks, including such international giants as Bank of America, Citibank, Chase Manhattan and Bank of Tokyo, have opened offices in Bahrain to handle the gusher of oil money flowing into the Arab world...
...public does not understand the alphabet soup of things that are strangling us. The Government, for example, drilled 60 holes while exploring in the federal petroleum reserve in Alaska. Nobody stopped it or interfered. But now that there is discussion about private industry's undertaking the job, there are all kinds of noises about the need for environmental impact statements. We do need Government control, but not this laborious paperwork and red tape that cause such delay...
...spend $160 million on expansion of its plant located in a suburb of the capital. Volkswagen intends to invest $100 million to expand the plant it bought from Chrysler. Martínez de Hoz also relaxed Argentina's ultranationalist laws banning foreign oil companies from participating in petroleum exploration. In response, foreign firms have spent at least $400 million on the search for oil. Result: Argentina will become an oil exporter...