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6AHistoryofGulfMarkOffshoreDuring1973GulfInterstateEngineeringCompanyanengineeringsubsidiarywasselectedaspartofateamtoprovidetechnicalandenvironmentalassistancealongwithmonitoringthedesignconstructionandinitialoperationoftheTrans-AlaskaPipelineSystem.Atthetimethe48-inch731-milepipelinewasthelargestprivateindustrialprojectinhistory.TheOPECEmbargoandtheEnergyCrisisInOctoberof1973concernsaboutanenergyshortagebecameafull-blownnightmare.Middle-EasternmembersofOPECcurtailedshipmentsofoiltotheU.S.andquadrupledtheprice.Theresultingturmoilincludedgasolineshortagesandnationwiderationingtheloweringofthenationalspeedlimitfrom70m.p.h.to55m.p.h.andadoptionofyear-rounddaylightsavingtime.GulfInterstateChairmanMillardobservedTherecentoilembargogeneratedconsiderableinterestonthepartofgovernmentandindustryinstandbyenergystorageforcrudeoilandrenedproducts.Coupledwiththehistoricallyincreasingdemandfortidewaterstoragefacilitiesthisinteresthasplacednewprioritiesonthecompanysdevelopmentofadditionalwaterterminalfacilities.ConcentratedFocusonEnergyBy1974GulfInterstatebegandisposingofselectedrealestateinvestmentsandreinvestingtheproceedsintoownershipofpipelineandterminalsystems.TotakeadvantageoftherapidlyincreasingdemandsforcoalthecompanyformedaCoalDevelopmentandConsultingDepartment.ThisnewgroupofmanagersandengineerswaschargedwithdevelopingTheoilbust.MarkR.WellmanisnamedPresidentandChiefExecutiveOfcer.CompanynameischangedtoGulfAppliedTechnologies.Beginstoexpandfocusofpipelinebusinesstoincludemarinepipelineengineering.19811983198319831974AnnualReportIllustration