Word: demands
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Dates: during 1970-1979
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Cubans are proud of their revolutionary achievements in health and education, but they occasionally grumble about their dependence on the U.S.S.R. The Castro regime has been moving away from pure Communism and flirting with supply-and-demand economics. There are new incentive programs for workers and a plan to pay interest on small savings accounts. Castro has also dropped hints in recent months about resuming trade with the U S which had been an overpowering force in the Cuban economy until Washington imposed a total embargo in the early 1960s. Washington's reply: no deal unless Cuba withdraws...
...European investors as well were eagerly acquiring gold because energy-induced inflation has been weakening the value of even their own "hard" currencies. A binge of panic buying by Southeast Asian investors, worried about reports of heightened tensions between China and Viet Nam, further pushed up demand. Many big U.S. investors were also acquiring gold as a hedge...
Some of the gold goes to the bank's own account, but most is for its clients. The Dresdner is rumored to be active as an agent for Middle Eastern investors, though much of the demand is from West German money managers. Schreiber advises them to keep one-quarter to one-third of their investments in gold...
Stobaugh, Yergin and their Project colleagues avoid this trap. They rule out natural gas as a solution, arguing that the deregulation of interstate prices will not make substantial additions to U.S. gas reserves. Coal's contribution in the short term is uncertain because uncertain demand for the fuel by electrical utilities has made the railroads, coal's key transportation link, hesitant to upgrade their service. Moreover, opposition to the environmental hazards of coal usage (which include black lung disease, the scarring of the land by strip mining, and air, water and thermal pollution) cause the Project to condemn coal...
With the proper government encouragement, solar energy and conservation could "provide" two-thirds of the United States' increased energy demand in the late 1980s. Without such a program, the Department of Energy estimates oil imports could increase by as much as half. Clearly, the Energy Project's recommendations deserve a fair chance in the current energy debate and in Washington. As this book shows, not all good ideas come from California. Some come from just across the Charles...