Word: petroleum
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...that can be extracted from coal, and the petroleum that lies trapped in shale rock. Fifteen percent or so would be spent on aid to low-income families that would suffer from rising fuel prices. The remaining 5% would go for further development of the nation's mass-transit system...
...will help ensure that many kinds of companies, small as well as large, and industries besides oil will get a chance to test daring ideas. Oil companies should not be encouraged to try to dominate, or monopolize, whole new alternative-energy industries that come into being to compete with petroleum. In such esoteric fields as the direct conversion of sunlight into electricity and the extraction of gas from sea water and oil from coal, companies in other industries?electronics, mining, shipbuilding?have as much expertise as the oil industry and, in some cases, more...
...Exxon, Gulf, Mobil, Royal Dutch/Shell, Texaco, British Petroleum, Standard Oil of California...
Profits are shooting up because tight supplies worldwide have allowed oil companies to raise their prices just as the 13-nation Organization of Petroleum Exporting Countries has raised its own. Companies with big business overseas had certain advantages. Earnings in markets like West Germany, which has no price controls on petroleum products, climbed especially sharply. Also, the recent strengthening dollar against foreign currencies improved the overseas balance sheets of the companies...
...regimes, have been propelled to the forefront of world economic, financial and strategic affairs. Variously smooth and snappish, OPEC'S chiefs contend that they are merely embellishing the rules of the game as taught by the oil majors. From the moment that John D. Rockefeller organized the infant U.S. petroleum industry into a producers' cartel to maintain stable and profitable prices, companies have employed one device after another to prevent price-disrupting swings between glut and shortage...