Word: embargoing
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...rest of the world, our price complaint must look a little silly. Even at an average $1.30 per gal., gas prices are as low today in real terms as they were in 1950--and nearly 40% lower than after the last embargo's price peak in 1981. Thanks to these bargains, Americans slurp as much oil as ever. In France, Germany and Japan, meanwhile, a gallon of gas costs more than $4. Taxes there account for 50% to 80% of the pump price. Here, by contrast, federal and state taxes together average 38 cents per gal., less than...
Right now, however, the U.S. trade embargo prohibits American drug and chemical companies, Cuba's natural partners, from establishing joint ventures. The embargo likewise dissuades big European companies from striking deals with Cuba because products made in Havana cannot be sold in the U.S., which represents 50% of the global market for pharmaceuticals...
WASHINGTON, D.C.: House Speaker Newt Gingrich created a special panel to investigate the Clinton Administration's role in Iranian arms shipments to Bosnia in defiance of an international embargo imposed in 1992. Gingrich's call for an investigation came a day after a State Department official said that the administration tacitly approved the 1994 arms transfers because of the Bosnians' desperate military situation. "President Clinton's policy of virtually inviting Iran into Europe could have disastrous results for America," said Gingrich. "The president undertook this reckless policy hastily and then kept it secret from Congress, the American people...
WASHINGTON, D.C.: House Speaker Newt Gingrich created a special panel to investigate the Clinton Administration's role in Iranian arms shipments to Bosnia in defiance of an international embargo imposed in 1992. Gingrich's call for an investigation came a day after a State Department official said that the administration tacitly approved the 1994 arms transfers because of the Bosnians' desperate military situation. "President Clinton's policy of virtually inviting Iran into Europe could have disastrous results for America," said Gingrich. "The president undertook this reckless policy hastily and then kept it secret from Congress, the American people...
...arguments with some old-fashioned red scare tactics. Declaring that an end to supports would open the door to Cuban sugar, the North Carolina Democrat demanded to know, "How dare this House bring pleasure to Fidel Castro?" The Congressman will be happy to discover that the existing trade embargo against Cuba will deny any such solace...