Word: crude
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Dates: during 1970-1979
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...Hassan and make him more amenable to seeking a negotiated settlement. The question is exceedingly tricky: Washington does not want to betray Morocco, a longtime ally. But neither does it want to jeopardize its improving relations with Algeria, and not merely because that country now supplies 9% of U.S. crude oil imports. Last week President Carter decided that the U.S. must support Morocco with the arms sale, though the transaction has also to be approved by a wary Congress. Then he sent Deputy Secretary of State Warren Christopher to Rabat to urge the King to seek a compromise...
...supply of food." Jack Elkins, a nuclear-weapons physicist from Oak Ridge, Term., got so fired up at the June festival that he went home and invented a home oil refinery. It is about the size of a 55-gal. oil drum and, he says, can refine crude oil into gasoline and home heating oil at the rate of 12 gal. of each a day. The cost is slightly higher than retail: "This is not something you'll use to save money, but in an OPEC emergency it's ideal." He offers to custom-build the refineries...
...energy, Kennedy originally opposed ending Government regulation of crude oil prices, calling decontrol "the worst form of rationing because it is rationing by price." Nowadays, however, he seems resigned to Carter's decision to abolish price controls. Kennedy is also skeptical of Carter's synthetic-fuels program. The Senator favors encouraging conservation, and he has proposed making available $34 billion in grants and loans to homeowners and industry for energy-saving projects...
...time. As it happened the most visible oil price gougers last week were not the oil companies but some of the more militant price hawks in the Organization of Petroleum Exporting Countries. Iraq, Libya and Iran all announced boosts of 10% or more in the overall cost of their crude, and other producers seem likely to follow suit. What really alarmed oil consumers was that the Libyan and Iranian rise, like that announced by Mexico a week before but unlike those announced by Iraq or earlier by Kuwait broke through the $23.50 per bbl. price the cartel set in June...
...explanation and concludes that intellectuals suffered a failure of nerve. When confronted, they would not fight for their beliefs, especially if the opposition came from the left, which was supposed to be on the side of justice and humanity. They would not defend the integrity of thought against crude up-against-the-wall sloganeering...