Word: embargoing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...background" basis. They also were consistent with his earlier statements about the doomsday prospect facing the industrialized democracies of the West because of "economic strangulation"-that is, national bankruptcies and the possible collapse of representative government as a result of continued high oil prices or a new embargo...
...necessary things: conserve energy, develop new sources and stockpile oil in case of another embargo or cutback...
...Common Market (except France), four other European nations and Turkey signed an agreement to form the International Energy Agency, which Henry Kissinger had proposed. Provided their legislatures approve, each member would build up a stockpile of oil equal to 90 days of imports; if any OPEC members embargo oil or reduce shipments, the IEA nations would reduce consumption and later share what they have with one another. The IEA agreement will soon come up before Congress, which would do well to approve...
...comparison, 1972 is used because it was the last "normal" year before the embargo and the biggest increases...
...other hand, if war erupts anew, the Arabs might embargo either the U.S. or all Western nations. Says Saudi Interior Minister Prince Fahd, 53, who is Faisal's brother and likely successor: "We would hate to impose another embargo. But in a war, when you feel you are in danger of dying, you may do anything. If war breaks out again, it will be not only the Arabs and Israelis who are damaged, but the world as a whole." If Western Europe were embargoed now, it would draw down its stockpiles (good for 60 days or more in each country...