Word: embargoing
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...that the companies held in tank farms and on tankers. The companies will not get those one-shot "inventory profits" in the future, unless OPEC again raises the price. As for relative earnings, the five companies' profits rose from $5.3 billion in the twelve months before the embargo and big price rises, to a steep $8.2 billion in the twelve months following; but the OPEC governments' revenues swelled from $22.7 billion in 1973 to $112 billion last year. The companies' earnings will probably decline this year because their costs are going up while oil demand is going down...
...Enders Plan, conceived by Thomas Enders, an Assistant Secretary of State, would prop domestic oil prices at high levels even after foreign prices recede. Purpose: to stem any rush back to cheap oil, continue pressure for development of alternate energy sources and shield against any future Arab oil embargo...
Even before the year began, stocks had taken one of their worst skids in history. Pressured by the Arab oil embargo, swelling uneasiness over Watergate and the worsening specter of inflation, the Dow lost some 180 points in 60 days toward the end of 1973. The widely followed indicator rose to its 1974 high of 892 in March, then began a perilous saw-toothed decline that seemed almost irreversible (see chart...
...Petroleum Exporting Countries) nations and force them to make ever deeper production cutbacks to maintain high prices. Secretary of State Kissinger wants to ensure that lower world oil prices would not jeopardize his goal of making the U.S. energy-independent, and leave it subject to another devastating oil embargo...
soap market with everyone else." More significantly, the greater the OPEC share in the U.S. economy and the bigger its interest in U.S. businesses, the more the oil nations would be come hostages to that economy and the less anxious they would be to impose another embargo that would damage their own investments. Beyond that, to reinject a note of humor, if any company controlled by petroleum potentates got out of hand, the U.S. could always nationalize...