Word: demands
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Dates: during 1970-1979
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...have skidded from an annual rate of about 12 million units in March to roughly 10 million today, a drop of 26% from last year's record mid-June pace. A main contributor to the slump is buyers' snubbing of luxury and even standard models, while the demand for fuel-thrifty small cars is far outstripping Detroit's ability to produce them. Buyers are increasingly turning to Toyotas, Volkswagens and other economically operated foreign makes, which now account for nearly a quarter of the U.S. market...
...crisis is real, and that the nation can meet it by making some sacrifices and changes in its lifestyle, by taking some chances and paying some costs. What is needed, of course, is to lessen immediately the country's umbilical dependence on crude oil from the cartel. Slackened demand could loosen the market, make OPEC nervous and start a rush by its members to sell. The ways to accomplish that are well known and many, for there is no single miracle stroke against OPEC...
Because nearly 40% of all oil used in the nation goes for gasoline, the first and most important step is to brake gasoline demand. Rationing would seem to be the politically expedient method. A New York Times-CBS News poll in early June found that three out of five Americans would prefer rationing to shortages and skyrocketing prices. Yet any form of rationing would tend to be inequitable and a bureaucratic nightmare. Even during World War II, when the U.S. was united as never before or since, gasoline rationing was marked by corruption, favoritism and loopholes. Today, rationing would...
...experts warn that gasoline would soar to $2 a gal., but free market advocates argue that long-term prices would go up much less, by perhaps a few cents or a dime a gal. In any case, three facts are most significant. First, a free market unquestionably would reduce demand by raising the cost. Second, the price would still be lower in the U.S. than in any other industrial nation except Canada. Third, the Government could use taxes both to skim off any "windfall" profits and to compensate lower-income people, who might otherwise be hurt by higher gasoline costs...
...fueled ICBMs, and developed instead the smaller and more accurate, solid-fueled Minuteman missiles. Moreover, the SALT I agreement, signed by President Nixon in 1972, and the Vladivostok agreement signed by President Ford in 1974, permitted the Soviets to keep the heavy missiles in exchange for dropping their longstanding demand that the U.S. nuclear force in Europe, as well as the British and French nuclear arsenals, be counted under SALT. Said Lieut. General George Seignious, director of the U.S. Arms Control and Disarmament Agency, last week: "I believe that we did very well in that tradeoff. I know our allies...