Word: crunchings
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...become less urgent. The dollar is riding higher these days, so monetary questions will also be secondary, even if, as one U.S. official warned, "there is almost certain to be turbulence in the money markets later this year." And with the industrial economies themselves newly threatened by the energy crunch, there is bound to be little enthusiasm for fresh initiatives toward the developing countries in the name of the North-South dialogue...
Amid price surge, output slump and energy crunch, Carter seems stymied...
...crunch that was caused by the cutoff of oil from Iran earlier this year taught the world how deeply dependent it is on crude from that tortured land. Lately the export flow has been back up to 3.3 million bbl. per day, but there were reports last week that production is dropping, and once again the supply is endangered. A shutdown of Iranian production would put the U.S. in a tough position. Oil stocks are already very low, and consumption would have to be reduced by at least 1.7 million to 2 million bbl. per day. "We would hope that...
...Petroleum Institute estimates that the U.S. now is short as much as 1 million bbl. of imported oil per day. Iran resumed exports in March, but this oil will not show up in American petroleum markets until late this month, which is why Carter and Schlesinger believe the gasoline crunch will be eased in June. But shortages will continue because OPEC nations that temporarily helped offset the lost Iranian production have reduced exports to keep supplies tight...
Many Americans seem to feel that profits are evil, and that profits in the hundreds of millions or even billions of dollars mean that the oil companies are taking advantage of the energy crunch to charge outrageous prices for their oil. Nothing could be farther from the truth. Profits built this great land of ours, and high profits are necessary to continue to build this land. New sources of oil cost a bundle to find, and the machinery to get it out of the ground costs even more. Unless our profits are increased still further, we simply won't bother...