Word: cuttingly
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Dates: during 1970-1979
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...victim of Iranian blackmail. Unless the oil was bought, they claimed, Tehran threatened to suspend negotiations on Japan's 1980 allotment of Iranian oil, which this year amounted to 11 % of Japanese consumption. Moreover, the officials said, buying the oil helped make up for the cut in oil shipments by U.S. firms to Japan, from 1.4 million bbl. a day in 1978 to about 1 million bbl. because of reduced production by OPEC members and the shippers' decision to fill domestic American orders first. Still, some skeptical U.S. officials noted that Japan's storage tanks are brimming...
...driver who did not use his quota could sell his ration coupons on a "white market" for whatever the traffic would bear. Congress rejected a similar scheme last May, and adoption of almost any rationing plan is not expected before next autumn-unless Middle East oil is cut...
More and more OPEC members are discovering that they can collect just as much by cutting production. Kuwait, Iraq, the United Arab Emirates, Algeria and Libya have all announced cutback plans for 1980, and others are likely to follow. Warns Gulf Oil Corp. President James Lee: "We estimate that OPEC could cut its exports by about 8 million bbl. per day, or nearly 25%, and still maintain balanced economies for its members." Reason: as the cartel sold less oil, the price for the diminished supply would automatically surge...
Under the bubble plan, a company can cut a lot of pollution from sources that are easy and cheap to control, but let out more discharges from sources that are hard and costly to curb. Plants in the same neighborhood can form a bubble and make the accepted trades among themselves. However, a firm cannot trade off the emission of a relatively harmless pollutant for a carcinogenic or otherwise hazardous substance...
Faced with all this, Hannon stunned the city, and the eleven-member school board, by handing in his resignation. The board had just renewed his four-year contract in September, but he was "tired," he said. He proposed a dramatic $70 million budget cut requiring the elimination of 1,700 jobs and the scaling down of programs for the disadvantaged. Two days later longtime School Board President John Carey also resigned, and left town on vacation, offering no explanation. After lengthy meetings with Mrs. Catherine Rohter, Carey's replacement as school board president, two of Hannon...