Word: costs
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Dates: during 1970-1979
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...greater industrial use of domestic coal to cut oil imports, the EPA was penalizing companies for polluting the air with coal smoke. There are also unnecessary inefficiencies: New York City has been ordered by the Department of Transportation to build subway ramps and elevators for the handicapped at a cost of $1.5 billion, even though impecunious city fathers contend that it would be cheaper to give the disabled free cab rides for life...
...first new idea, announced last month, was to give the Office of Management and Budget the authority to preview and if necessary delay all new regulatory programs that would cost the economy $100 million or more...
Even if the regulators were brought under strong central control, many would still require a much tighter hand on the purse strings. This could be achieved by requiring "economic impact statements," which would spell out the costs of new rules against the benefits. Alternatively, a new regulatory board could draw up for Congress an annual regulatory budget or calendar that would set out, in time for opposition to be heard, the costs and benefits as well as a timetable for new rules. Either idea would focus attention on the climbing cost of regulation and go a long way toward dampening...
...first line of defense in a turbulent Middle East is the diplomatic and military support of the U.S., which it will jeopardize if it plays games with the dollar. Anyway, the Saudis are stuck with the buck; by now they could get out of dollars only at ruinous cost to themselves. There just are not enough marks, yen or Swiss francs available for them to buy with their dollars. Long before they converted any large portion, their sales would have driven the value of their remaining dollars down so much as to make their own reserves worth much less...
Supplies of no-lead have been particularly tight because refiners find it costly to switch to lead-free production, and difficult to turn out fuel that meets the Government's minimum octane standards and still allows the new cars to run smoothly. To encourage increased no-lead output, as of Dec. 1 the Department of Energy will allow refiners to pass more of the actual costs of producing gas on to consumers, which could mean a further increase in prices from 2? to 4? per gal. In the past year, the average price at the major companies' stations...