Word: petroleum
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...more serious danger is that the country may slide into anarchy. Government forces have been barely able to suppress uprisings by rebellious Turkoman and Kurdish tribesmen in the northern provinces. Although petroleum production rose above 4 million bbl. a day last week, the oilfields around Ahwaz are still largely in the hands of dissident workers' councils, which have held numerous sit-ins to protest low wages and poor working conditions. Some 3.5 million Iranians (one-third of the work force) are unemployed; thousands of them milled around the ministry of labor in Tehran last week, demonstrating for jobs. Meanwhile...
Quotas, Entitlements and Regulation of the Domestic Oil Industry--John Buckley, vice president, Northeast Petroleum Industries, Inc., Science Center...
Military sources said six guerillas used a Russian-manufactured rocket in the attack. The petroleum is valuable to Rhodesia because its imports are restricted by United Nations sanctions...
...commensurate political influence in the central government. The Westerners served for decades as a captive market for high-priced manufactured goods from Eastern Canada. Now that they have come into their own, oil-producing Alberta and Saskatchewan are resentful that the Trudeau government has claimed a slice of their petroleum revenues to subsidize the price of imported oil, on which most of Eastern Canada depends...
Whatever the merits of the President's windfall tax proposal, his jabs at the "already large profits" of the petroleum industry were designed to appeal to the public's deep suspicions that oil earnings are particularly bloated. The grumbling is sure to increase over the next few weeks as the companies begin announcing their first-quarter earnings. They will probably show increases on the order of 20% to 40% or more over the first quarter of 1978. Reason: oil inventories acquired months ago are becoming more valuable as OPEC continues to push up prices...