Word: embargo
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...recent new section, THE SEXES, was started in January to accommodate the growing amount of news about the heightened consciousness and militancy of women (and male reaction to that movement). ENERGY is being launched in response to a very different crisis: the shortages dramatically precipitated by the Arab oil embargo. THE SEXES will probably remain a permanent fixture, but ENERGY may be a separate section in TIME only as long as the current emergency lasts. For the duration, the new section will report on Government policy, explore what should and can be done to alleviate the situation, describe the involvement...
...course the energy crisis, if there really is one, is all about oil, gas, sulfur contents, Arab export embargos and the like. At least that is what President Nixon would have us believe. Nixon would be the last one to suggest that the fuel deficit has anything to do with the style of life in this country, the frenzied way we consume power and energy, the structure of the oil companies or the foreign policy that produced the Arabs' oil embargo policy...
Even more worrisome is the growing probability of acute fuel shortages caused by the Arabs' total embargo of oil shipments to the U.S. It is now estimated that the U.S. will have 2,000,000 to 3,000,000 bbl. less than the 17 million bbl. a day that it normally burns. The grim prospects for the months ahead: power brownouts, chilly homes and offices, shuttered schools and factories. The loss in production could range to billions of dollars (see story next page) and bring a rise in the unemployment rate, wiping out last month's encouraging...
...Five other countries joined Libya, Saudi Arabia and Abu Dhabi in shutting off all oil exports to the U.S. Washington officials estimated that the embargo will reduce U.S. supplies, directly and indirectly, by 1,500,000 bbl. to 2,000,000 bbl. a day, or around 10%. That is a serious threat to a nation that had good reason to fear a winter shortage of heating oil even before the war began...
...Five countries-Kuwait, Algeria, Iraq, Abu Dhabi and Qatar-extended the export embargo to The Netherlands. The Arabs have been incensed by reports-denied by The Hague-that the Dutch government has offered alternative transit facilities for Soviet Jews emigrating to Israel, replacing the center that Austria promises to close (see following story). The Netherlands is also an important exporter to the U.S. of heating oil as well as other petroleum products refined from Arab crude. Thus the Arabs may well have hit The Netherlands in order to further squeeze...