Word: embargoing
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...Greece Congressmen remained bitterly opposed. Indiana Democrat John Brademas charged that approval by the House would amount to "capitulating to a form of blackmail of the U.S. Government." Turkey has threatened to close U.S. military bases if aid is not resumed this week. The Administration insisted that lifting the embargo is the only way to create a negotiating climate in which the U.S. can help achieve a Cyprus settlement. Turkey has indicated that it will not enter serious negotiations so long as it is under pressure from the U.S. on arms...
...interim agreement by no means should give the feeling that under the threats of war and oil embargo, the U.S. can put pressure on Israel to accept all that the Egyptians want. That would only be an invitation for increased blackmail. The way to cope with it is to show Egypt that [it] cannot achieve everything it wants...
Bucked up by the fourfold increase in oil prices since the 1973 embargo, Exxon's total revenues rose by 61% last year to $45.8 billion, pushing the company for the first time ahead of General Motors, to top place on the FORTUNE 500 list in terms of sales. After-tax earnings also increased by 29% to $3.1 billion-the largest net profit ever reported by any industrial company. But Exxon's net in the first quarter of 1975 slipped 11% below the same period a year earlier, when oil prices were still rising; some Wall Street analysts expect...
More than 20 months have passed since the oil embargo of 1973, but the U.S. still lacks a comprehensive nation al energy policy. The Democrat-dominated Congress dislikes the Administration's energy platform, but has failed to produce an alternative. Just last week the House trounced the Ways and Means Committee's proposals to boost federal gasoline taxes and slap a tax on low-mileage automobiles. At the same time, the OPEC cartel announced that oil prices would be going up in October (see ECONOMY & BUSINESS...
...with it the need for a conservation policy with teeth that would decrease imports and slow down depletion of domestic supplies. Alongside it should come a program - funded in part by energy taxes aimed at inducing conservation - to exploit domestic potential to the fullest. To guard against a future embargo, the Government could pur chase a stock pile of oil, with producers submitting sealed bids; that just might stimulate some producing nations to undercut OPEC's prices. The U.S. nonpolicy on energy and congressional inaction are both dangerous and scandalous...