Word: cued
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Dates: during 1970-1979
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Political compromise being an expression of the possible, the plan bears little resemblance to Carter's original proposals. Despite campaign promises, the President had opted for continued regulation at a price raised in stages from $1.49 to $1.75 per 1,000 cu. ft. The House basically agreed with his plan, but the Senate voted to remove regulation. Drawing from both proposals, the conference decided to raise the price immediately to $1.75 and remove controls in stages, ending them by 1985. The compromise permits either Congress or the President, after a six-month wait, to reimpose controls for 18 months...
...Excalibur, which echoes the lines of the classic '28 SSK Mercedes-Benz, comes close to being an original; everything save the 454-cu.-in., 215-net-h.p. Chevrolet V-8 engine is built from hubs up in Milwaukee. The $64,500 Stutz Blackhawk VI starts out as a new wide-track Pontiac Grand Prix, which is sent to Turin, where Italian descendants of descendants of coachmakers handcraft a body of 18-gauge steel (twice the weight of Mercedes metal); the Shah of Iran is said to have ordered twelve of them...
...pipeline company siphons off the rest of the gas and pays him an annual fee, which last year came to $667. Such arrangements are common. Peoples Natural Gas Co. of Pittsburgh has 379 lease agreements with landowners in a 16-county area. Collectively the wells produce about 600 million cu. ft. of gas annually, enough to supply more than 5,000 homes for a year. Other companies can draw on gas from wells drilled on their plant sites. Among them are Westinghouse Air Brake, Koppers Co., Edgewater Steel, Union Switch & Signal and Pittsburgh Forgings. As energy prices rise, the scramble...
...distributors want to "roll in," or average out, the higher priced imported LNG with the price of domestic gas, currently held by federal regulation to $1.48 per 1,000 cu. ft. tops. That would hold down the price somewhat, but force the vast majority of customers who will not burn imported gas to pay part of the cost of supplying LNG to those who actually use it. That is indeed the basis on which the first LNG imports have been sold, but Energy Secretary James Schlesinger has denounced the plan as constituting a subsidy for imports. He favors "incremental" pricing...
...problem is price. According to Iranian Premier Jamshid Amouzegar, LNG costs five to six times as much to ship as oil. And that does not count the formidable expense of conversion and storage terminals; the terminal at Cove Point cost $370 million. Algerian gas costs $2.37 per 1,000 cu. ft. to deliver to East Coast users; Indonesian LNG will cost, $3.42 delivered in California...