Word: cutbacks
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...between New York and Florida. Those likely to be dropped: the Chicago-Miami Floridian, the New York-Kansas City National Limited, the Chicago-Seattle North Coast Hiawatha. Since the Senate bill resembles the one passed by the House, the Administration will probably grudgingly go along with the more limited cutback...
Some members are beginning to take price-boosting actions on their own. Last week Nigeria announced plans for a 10% cutback in the production of its much prized low-sulfur crude, Algeria threatened an even larger 20% cut of its own, and Kuwait indicated that it intended to reduce output by as much as 25% early next year...
...Algerian governments argue that the cuts are for purely technical reasons, to prevent the damage to their oilfields that would result if they continued indefinitely pumping out crude at recent rapid rates. Nigeria's claim may be partly justified, but Western oilmen charge that Algeria's alleged cutback is nothing more than a sleight of hand. Algeria is secretly selling the oil for top dollar to spot-market buyers. Reports a high oil company executive: "What appears to be a cutback is really just a diversion to the spot market. This is more than a suspicion...
...transmission problems that forced REMVEC officials to resort to a power cutback partially stemmed from the increased demand for electricity to cool buildings during the current hot spell...
Uncertain of Viet Nam's long-term objectives in Cambodia, the Bangkok government fears that the conflict could spill over into Thailand: after a temporary cutback during the border war with China in February, Vietnamese troop strength in Cambodia is on the rise again and may now involve as many as 200,000 men. Moreover, Thailand simply cannot cope with the new floodtide of escapees. Inundated by nearly 250,000 Indochinese refugees-80,000 Cambodians, 24,000 Vietnamese and 138,000 Laotians-Thailand says its facilities have been strained to the breaking point and its national security is threatened...