Word: effect
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Dates: during 1970-1979
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Though the Seven Sisters dominate the industry, their influence and power are actually being cut down by the energy upheavals of the 1970s. This winter the worldwide shortage of crude has encouraged one nation after another, and numerous independent oil firms, to deal directly with OPEC, in effect short-circuiting the big multinationals. Says Thornton Bradshaw...
Coming on top of OPEC's cutbacks, the cartel's price increases have a snowball effect. With supplies tight, retail prices in the U.S. begin edging up to the maximum. Then, when OPEC raises its crude oil charges, the U.S. Government allows the price controlled ceiling itself to creep higher. As the demand for gasoline mounts, the retail price
...withdraw an equal amount from the pool. For example, a refinery that buys domestic oil for, say, $9.45 a bbl. would pay about $2.50 to the fund; a refinery that imports foreign oil for $14.55 would then collect that $2.50. Observes Oil Economist Arnold Safer: "The entitlements program, in effect, gives any company that imports OPEC oil $2.50 for absolutely nothing. The system creates a perverse incentive, just the opposite of what is really needed...
...payment to, the broadcaster whose signal it picks up, though the cable operator will have to pay small copyright fees to the owner of the program. Broadcasters are sure to make an angry challenge of this aspect of the proposed FCC ruling in Congress. Quite as important as the effect of the proposed ruling is the shift in FCC philosophy that it indicates. The FCC had always been eager to shield local broadcasters from cable competition. But Philip Verveer, director of the FCC cable bureau, now justifies the proposed new ruling with a rhetorical question: "Why interfere with consumer preference...
...characters declare their problems bluntly to each other, instead of living them out or summing them up in an act. Bergman's characters can get away with stating their naked feelings because he elevates their conversations from daily life. When Allen uses these declarations to comic effect they work, but as serious character-building they don't. Diane Keaton's character--a pushy writer, neurotic like everyone else in the movie--declares, 'I come from Philadelphia, and I believe in God!" and Allen has scored both a laugh and and illumination of her character. She blurts, "I'm beautiful...