Word: embargoing
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Sanko's troubles began in 1973 when the Arab oil embargo dealt a severe blow to the world shipping industry by reducing the demand for tankers. Instead of taking that as a warning signal, Sanko continued to expand its fleet, despite growing competition from companies based in other Asian countries. By 1983 an oversupply of tankers had swamped the industry, and Sanko slipped into the red. While in bankruptcy proceedings, Sanko will try to stay afloat by scuttling some of its 264-ship fleet. ENERGY Slippery Job for Lloyd...
American loans dried up after the Soviets invaded Afghanistan in 1979 and President Carter responded by putting strict limits on U.S. grain sales to Moscow. When Reagan lifted the embargo in 1981, the Soviet Union turned mostly to Europe for loans to buy grain. This year, though, the Kremlin began seeking American credit once again. Troubled by seven consecutive disappointing harvests, the Soviets are expected to buy $1.6 billion worth of grain from the U.S. this year...
Doing 80 on a long, straight highway through the flatlands was once considered almost a part of the American birthright. But when the oil embargo pinched the U.S. in 1973, high-speed, gas-gulping joyrides looked like something the nation could ill afford. Congress forced the states to impose a 55-m.p.h. limit, and a tradition died. Though lower speeds have saved countless lives and millions of barrels of oil, many road runners hate slow-motion driving. I Can't Drive Fifty-Five, a popular song by Sammy Ha-gar, has become the anthem of speeding scofflaws...
Singapore insists that the ban penalizes the nation even though it has already decided to abide by the animal-protection covenants in the Convention on International Trade in Endangered Species. Moreover, the government protests, the embargo has cut off the legitimate export of some $12 million worth of bred-in-Singapore tropical fish. ABORTION False Advertising...
...places like Jakarta due to U.S. State Department travel warnings. What a pity this is! Because of a self-harming, unnecessary, and contradictory policy, your education and the future of my country will be compromised. To speak the language of University President Lawrence H. Summers, this is an embargo on interaction with the ideas of other parts of the world, and as in most embargoes, everybody loses...