Word: canadas
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Dates: during 1970-1979
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...There is no one on earth who will fail to suffer from these extraordinary increases," proclaimed Jimmy Carter, with only mild hyperbole. He and the leaders of Britain, Canada, France, Italy, Japan and West Germany issued a communiqué spelling out why: "Unwarranted rises in oil prices mean more worldwide inflation and less [economic] growth. That will lead to more unemployment, more balance of payments difficulty, and [will] endanger stability. We deplore the [OPEC] decision...
...where domestic oil output has been declining (down about 700,000 bbl. a day since 1972), a freeze on imports would cause more hardship. Japan, which is totally dependent on imported oil, took the same view; Prime Minister Masayoshi Ohira reportedly dismissed the European plan as "very clever." Canada, where domestic oil production is also leveling off, joined the U.S. and Japan in urging that the summiteers set specific, country-by-country import quotas, adjusted to reflect each nation's differing circumstances...
...much less, by perhaps a few cents or a dime a gal. In any case, three facts are most significant. First, a free market unquestionably would reduce demand by raising the cost. Second, the price would still be lower in the U.S. than in any other industrial nation except Canada. Third, the Government could use taxes both to skim off any "windfall" profits and to compensate lower-income people, who might otherwise be hurt by higher gasoline costs...
...could also reduce OPEC's power by buying more oil and gas from nations outside the cartel, especially those in the Americas. The need is urgent to create a North American Common Market. Canada has vast supplies of natural gas; the U.S. could negotiate to provide guaranteed markets and much needed capital in return for a steady supply of gas. Mexico is proud and sensitive about its patrimony of oil and gas, but the U.S. could acquire more of it by admitting more Mexican immigrants, giving trade preferences to Mexican exports, exchanging American agricultural technology to help feed...
What can be done? Obviously the countries that already accept significant numbers of Vietnamese refugees-the U.S., France, Australia and Canada-should increase their quotas, and other nations must quickly be added to that unnecessarily exclusive circle. Japan, for example, has admitted exactly three Vietnamese as permanent residents and, under pressure from the U.S., is now willing to let in as many as 500. China has taken 230,000 refugees so far, but is reluctant to take more. The U.S. had hoped to encourage the Soviet Union to lean on the Vietnamese to ease up on their ethnic Chinese minority...