Word: embargos
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...behind the people. It hurried to catch up. On March 3, it sent Connecticut Delegate Silas Deane to France to negotiate for military aid; on the 14th, it voted to disarm all Loyalists; on the 19th, it authorized privateers to intercept British merchantmen; on the 26th, it placed an embargo on exports to Britain and the British West Indies. On April 6, it opened ports of trade to all nations except Britain. By May 10, John Adams was writing to James Warren, president of Massachusetts' Provincial Congress, "Every post and every day rolls in upon us, independence like a torrent...
...speed up inflation, he says, "because our economy is presently performing so far under capacity." The double-digit inflation of 1973-74, he says, was caused largely by a series of shocks that are not likely to be repeated: the quintupling of oil prices that followed the Arab embargo, frantic worldwide bidding for scarce commodities, two devaluations of the dollar...
...technology in supplying the nation's voracious demand for energy have helped the U.S. to become the most advanced country on earth. Yet many Americans have come to view the industry with suspicion, especially since the rapid runup in oil prices that followed the 1973 Arab oil embargo. Critics contend that the major companies' total control of all aspects of their business, from wellhead to gas pump, has given the industry too much power to manipulate supplies and prices and reap excessive profits at the expense of consumers. During the past year or so, the efforts of congressional...
...boom has already wiped outmost vestiges of the deep downturn that hit the industry about the time of the Arab oil embargo in late 1973. At the bottom of the slide early last year, about one-fifth of the industry's work force-some 273,000 assemblers, draftsmen, accountants, middle managers -were out of work. Now auto joblessness is down to 30,000 and still dropping. Even so, the industry cannot produce the most popular models fast enough to satisfy demand. Inventories that for some makes hit a 150-day supply in early 1975 are now down...
Consumption is perilously close to the record of 7.3 million bbl. used daily in the U.S. in August 1973, shortly before the October embargo. Since gas sales are highest in summer when more vacationers are on the road, August of the Bicentennial year could be a dilly. FEA has another, equally sobering set of statistics. Whereas in 1960 only 18.8% of oil used in the U.S. came from foreign sources, in the pre-embargo period of 1973 that figure rose to 36.2%. Currently it is about 40%. So much for independence...