Word: clout
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...will hinge on how the President finally emerges from the maelstrom of Watergate. What is at stake is his ability -and the ability of the entire Administration-to deal effectively with all the other major issues of the year. Unless Nixon is completely cleared and regains his former clout, or is succeeded by Vice President Gerald Ford, the presidency may turn into a form of regency. Several strong men will use highly independent power: Henry Kissinger in foreign affairs, George Shultz in the economy, William Simon in energy and James Schlesinger in defense...
...time including the gunboat diplomacy that helped American companies negotiate favorable contracts with Venezuala, and eased British Petroleum's entry into the Middle East oilfields, and now incorporated in tax breaks like the U.S. oil depletion allowance. But because of their size, their international connections, and the economic clout of their cartels, the oilmen form a class by themselves, independent of the separate nations they supply and deal with. Negotiating with the Arabs in order to supply western oil needs, the cartels are willing to squeeze money out of either side to make their profits. They are pure middlemen, rather...
...most important clout is in helping exercise the gatekeeper function of deciding who should get through to the Boss-and woe to anyone who tries to interfere with her preserve. Among those who did early in the Nixon Administration was White House Chief of Staff H.R. Haldeman, who tried but failed to proclaim his total control over the White House staff by having her office moved farther away from Nixon...
...favorable to the Arabs. Moreover, they are steadily intensifying their oil shakedown. Originally they planned to reduce production by at least 5% each month. Later they embargoed all oil shipments to the U.S. and The Netherlands, in punishment for their support of Israel. Last week, showing new unity and clout, ten Arab countries announced that production for November will be slashed a minimum of 25% below the September total of 20.5 million bbl. per day. Though there has been promising progress toward a lasting settlement in the Middle East, the Arabs vow that they will continue their cutbacks and embargoes...
...Last week the board got a new president, quiet, methodical Warren W. Lebeck, 52, an officer of the C.B.T. for the past 19 years. Lebeck was picked by the board of directors after a divisive five-month manhunt. He is a compromise candidate, who lacks the charisma and political clout of his $110,000-a-year predecessor, Henry Hall Wilson, a well-connected Democrat who returned home to North Carolina last June to challenge Sam Ervin for his Senate seat in 1974. But Lebeck may be the perfect...