Word: embargo
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...scheduling fewer flights. Democratic Senator Henry Jackson of Washington has introduced a bill that would, among other things, lower the speed limits on interstate highways to 50 m.p.h. or less and force some utilities to convert from oil to higher-polluting coal. The most chilling aspect of an oil embargo-literally-is that the U.S. might be unable to stay warm this winter. The Interior Department figures that the nation will have to import 650,000 bbl. of heating oil a day to supply adequate heat, but Economist Lawrence Goldstein of the Petroleum Industry Research Foundation fears that other countries...
...Expert Robert Hunter expressed skepticism that an Arab oil cutback would work, even as part of a war against Israel, because "every oil producer would be watching every other one to see which was trying to carve out a larger place in long-term markets by violating a proclaimed embargo...
...United States and the Soviet Union can play a constructive role in improving the situation in the Middle East by staying out. The two superpowers must lead an embargo on the sale and shipment of arms to/all potential Middle East combatants. Only then can the Israelis and Arabs resolve their differences through discussion rather than continuing to kill each other without settling anything...
...State Department has investigated every claim that U.S. supplied arms are being used in Africa, and every time the equipment has turned out to be non-U.S. or pre-1961 embargo material, Martin said...
...export controls will aggravate the nation's trade deficit, which jumped to $158 million in May. They will make the U.S. dollar less convertible-and thus less valuable-in the world because it cannot be exchanged for certain commodities. Worse, the historically unprecedented embargo against friendly nations infuriated European and Japanese customers, who charge that the U.S. has reneged on its long-term export contracts. The Japanese were particularly irked because U.S. officials have prodded them relentlessly to Buy American. Japan needs soybeans-they are used for soy sauce, bean curd and other foods-and buys almost...