Word: drawdowns
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Dates: during 1970-1979
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...some brands of gasoline could cost even more at the pump in coming weeks because many refiners will be blending high-priced Arab crude into their product and importing expensive fuel from Europe. But shortages should ease quickly; the Federal Energy Office will permit an immediate 11 million bbl. drawdown from refiners' inventories, the fourth so far this year...
Simon is very aware of the problems, and he and his staff are working overtime to find solutions. Late last month he ordered additional "emergency" allotments of fuel to 26 states and the District of Columbia. That required a drawdown in gasoline inventories that, if repeated, could have serious effects later this year unless the Arab embargo is eased. Simon believes that FEO can "cool off the situation within three to six weeks by shifting fuel from states with ample supplies to those that are hard...
...genial, even languid, but there were incidents of violence. In Palo Alto, Calif., hard by Stanford University, police made 210 arrests after some rock throwing along El Camino Real, a major highway. In Detroit, 15 out of some 250 sit-in demonstrators were arrested at the Federal Building. The drawdown of U.S. forces has made the war a less personal issue to many collegians, and many 18-to 21-year-olds may be saving their spleen for the November presidential election, the first in which they may vote; if the war continues to be in the news, their supposed apathy...
...After a 21-hour meeting of the National Security Council, President Nixon rejected Defense Secretary Melvin Laird's proposal for a 10% reduction in the 300,000-man U.S. force in Europe. The President's reasoning: the drawdown would unhinge Western European confidence in the U.S., debilitate NATO and undercut West Germany's attempts to normalize relations with the East bloc by rendering Western Europe too weak militarily to strike equitable bargains with the Communists...
...Nixon is also under counterpressure from the Joint Chiefs of Staff and the U.S. commander in South Viet Nam, General Creighton Abrams. The President originally planned to announce a reduction of 50,000 over the next four months, then a drawdown of 100,000 within the following four months. The Joint Chiefs, fearful of Communist moves across the Viet Nam borders, pleaded first that no announcement of any kind be made for 100 days, or if that were not possible, for at least another 60 days. Nixon heard the chiefs out at a luncheon meeting in the Pentagon. Then, only...