Word: embargo
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
While bankers and manufacturers, truck drivers and jet pilots understand that Nixon did not bring on the Arab oil embargo, they also understand that the leadership in the energy crisis has been dismal to nonexistent until now. Ironically, nobody has insisted on presidential sovereignty in crisis management more than Nixon. He will reap the credit-and the blame. -Then there are the Republican Senators and Congressmen who are up for re-election next fall. Many of them are far more frightened and pessimistic about their own chances than they were even a month ago. Suddenly it has been discerned that...
...costs will be outweighed by the efficiencies of dropping unprofitable runs, flying planes more fully loaded and cutting employee staffs. Several expect airline profits to rise 5% to 10% next year and are thinking of recommending the stocks as a buy. One worry gives them pause: maybe the Arab embargo will soon be lifted, the fuel shortage will ease, and the airlines will not make all those economies...
...years of U.S. economic poisoning. Nixon's explanation still rings false. The crisis would be here even if it weren't for the fact that the Arabs had picked up a few ungentlemanly American tricks. Even Nixon's handpicked energy czar, William Simon, says that the Arab embargo is only a convenient focal point, a catalyst that has speeded things up a bit but not changed the basic picture. Or as Frank Ikard, president of the conservative American Petroleum Institute, put it: "We are going to be short of energy for our homes, our industries and our transportation this winter...
...about Nixon's number two explanation, that America's profligate lifestyle has been virtually burning the energy candle at both ends? Here the man has a potent answer, one that the public can easily accept. While the Arab embargo excuse relies upon the mystique of an inscrutable, hostile foreign force, this second attempted explanation dredges up an enormous untapped American resource: guilt. We are to blame, Nixon explains, painfully pointing the finger at one and all, dimming the lights on the White House Christmas tree, deigning to ride the train down to Key Biscayne for the holidays. And after...
...fuel shortage can be traced to anyone, it is the oil companies. Motivated by a desire for higher prices, they have conscientiously failed to keep petroleum refinery capacity on a level with demand. Even without the Arab embargo, insufficient refining capacity will leave the nation short of gasoline and home heating oil. And not one new refinery is currently under construction in the United States...