Word: allowable
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Dates: during 1970-1979
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Europeans-as well as Americans-had good reason to worry about what would happen to the supply, and price, of oil. Meeting in Geneva, the OPEC nations raised the price of crude oil by 9%-and that was the good news. The bad news was that they agreed to allow members to add whatever surcharges "they deem justifiable." Saudi Oil Minister Sheik Ahmed Zaki Yamani, who had argued in vain against the surcharge, predicted that the move could cause a "free-for-all" in the world oil market...
...Though that alone would fatten OPEC'S already bulging bank accounts with an additional $20 billion annually from the U.S., Western Europe and Japan, as well as more foreign exchange from the have-not nations of the Third World, the cartel also moved to allow individual members to stick on whatever price-gouging surcharges and premiums they think they can get away with. That made official policy a tactic that many producing countries have been following all winter anyway. Finally, as if to add insult to financial injury, the OPEC representatives went out of their...
...primary culprit is the city itself. "At the risk of overdramatization," Auletta cites 21 "original sins" which the city, state and federal governments committed. In addition to rather prosaic "sins" like the growth of the suburbs and high taxes, Auletta reveals financial shenanigans that politicians and bankers employed to allow the city to continue its spendthrift ways. His discussion of the Nelson Rockefeller championing of moral obligation bonds clearly explains how an irresponsible procedure, responsibly put forth, grew into common practice. Moral obligation bonds, designed by then little-known bond lawyer John Mitchell, allowed the state to sell bonds...
...effort to keep the area in front of the goal free, the Crimson women will concentrate on their passing skills and try to play an open game--a game plan that should allow the offense to set up better scoring opportunities...
...long argued by Senator John C. Stennis, chairman of the Senate Armed Services Committee. Bills before Congress range from requiring only registration to reinstituting the old-fashioned draft. There is even talk of making women register. One other proposal would set up a "national service" program that would allow draftees to go into uniform or work at useful civilian jobs...