Word: embargo
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...economic indicators were already peaking out in November 1973, when the Arab oil embargo and energy crisis finished off the 1971-73 U.S. boom...
...cutting back on outflow to the U.S., Canada hopes to reserve oil for itself when the pipeline is eventually extended to Montreal, a project announced during last winter's Arab oil embargo and originally scheduled for 1976, but currently bogged down in financing. The unstated purpose of last week's action was to pressure multinational oil companies, which have lately been pulling back on exploration because of increasing costs, into pressing ahead on development of the vast tar-sands deposits. At least one major company was not moved; a spokesman for Mobil said that the Canadian action...
...scale change in attitudes toward Israel. Some studies suggest that any change is due less to a growth in anti-Israeli feeling than to a new awareness of the Palestinians and their cause. But if there were to be another Arab-Israeli war, perhaps accompanied by a new oil embargo, the U.S. commitment that Israel has long taken for granted might be placed under severe strain. Some U.S. officials worry that at some future time, an Israeli government might misread a flare-up of anti-Israeli sentiment in the U.S. as a prelude to American abandonment and be tempted...
...vote neared, the aloof U.S. posture clearly worked against Cuba. An abstention frustrated a two-thirds majority almost as effectively as a negative ballot. At the same time, some nervous, borderline nations interpreted the abstention as an indication that the Ford Administration really did not want the embargo lifted...
...they needed us," he complained, "but now that we need their help, they do nothing." After the Cuban proposal failed, some Latin American newspapers, and even diplomats, claimed that the OAS was dead. That clearly was not the case. However, as more and more Latin nations ignore the OAS embargo by recognizing and trading with Cuba, the organization's authority will inevitably be undermined. Venezuela, for example, is widely expected to become Castro's first non-Soviet source...