Word: petroleum
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...Susan Stone, director of communications. "We try to focus on the employee and his manager rather than set hard and fast rules. It's a pay-for-performance situation. We have people over 65 doing a heck of a job, no matter where we put them." Texas Refinery, a petroleum-products manufacturer in Fort Worth, prefers to hire older people. Says Bob Phillips, assistant personnel director: "We couldn't operate as efficiently without our over-65-year-olds. The mature salesman has the patience to stay with a customer until he's sold." That is borne out by studies conducted...
...Burning the oil out of the shale-the most promising method-would require a market price of perhaps as much as $25 per bbl. to make it profitable. Yet even at the present average U.S. price of $11.50 per bbl. for newly discovered domestic oil, Ashland Oil and Occidental Petroleum last month were given federal approval to begin development of a joint shale-oil project in western Colorado...
...trouble with Carter's energy plan is that it does not provide for Government incentives that could help private industry bring petroleum from unconventional sources to market at a price the economy could afford. Instead, the program focuses on conservation-inducing the U.S. to use up more slowly the oil and gas that the nation knows it can count on producing. Conservation is necessary, but not sufficient: at best it only postpones the ultimate day of reckoning. As Laird observes: "Conservation alone is a slow walk down a dead-end street...
...scheme is intended to discourage consumption, but it is doubtful how effective a deterrent it would be. Nearly 40% of all petroleum consumption in the U.S. on any given day is used to run the country's automobiles, and though the price of gasoline has all but doubled in the U.S. since the days of the Arab oil embargo, Americans are today consuming about 7% more gasoline than they were before the price shot up at the pump. Carter's wellhead tax would only add about 60 to 80 to the price of a gallon of gasoline...
...North Sea fields coming ashore at the rate of 830,000 bbl. per day, the nation will produce about half of the oil that it consumes this year, saving some $3.6 billion in its balance of payments. Oilmen expect that the country will be come self-sufficient in petroleum by 1980. Said Prime Minister James Callaghan after a visit to the huge "Forties" field: "God has given us an opportunity we have not had in a century. When you think about the impact of this [oil] on the country's fortunes, it is really astounding...