Word: embargos
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Dates: during 1970-1979
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...people. When I ran for President, I tapped the basic problems of our nation: the shocking assassination of J.F.K. and the ignominious defeat that we suffered in Viet Nam. A realization for the first time that our nation has limited natural resources [came] in 1973-74 with the oil embargo. In some ways the nation has not gotten over this...
Just as in the panicky period that followed the Arab oil embargo in 1973, the major auto firms were caught off guard by the sudden buyer switch to smaller cars. Of General Motors' new X car line, President Elliot Estes notes: "We guessed in favor of the six-cylinder engines. But right now sales are running 60 to 40 in favor of the fours." GM is getting no help from its big cars either. Sales of the standard Chevrolet are off 20% since January; Buick Le Sabres are limping almost 29% behind 1978's pace, and purchases...
...buying home insulation, wood-burning furnaces and other oil-conserving devices, and much stiffer mandatory conservation rules. A number of innovative companies, including Du Pont, A T & T and General Motors, have reduced their energy use relative to their output by 17% to 30% since the Arab oil embargo of 1973; yet many more firms have gone on giddily wasting energy. Consider the beneficial effects of a 20% surtax on the commercial use of electricity: skyscrapers that are lit up all night long and advertising signs that glisten at 4 a.m. would be turned...
...issue dramatizes the increased importance of the U.S.-Turkish relationship in the wake of the upheaval in Iran. It also illustrates the deterioration and current delicacy of that relationship. Before the Turkish invasion of Cyprus in 1974 and the subsequent arms embargo imposed by Congress it would have been unthinkable for any government in Ankara to solicit a Soviet blessing for some thing like U-2 overflights. There is now widespread resignation in Washington that the damage done by the Cyprus crisis five years ago will never be fully repaired. Many in the Government see the U.S. as having abused...
...years of Greek-Cypriot repression of the Turkish minority on the island and by an abortive Athens-instigated coup in Nicosia. Ethnic loyalties have unquestionably played an unhelpful part in U.S. policy. An influential circle of a dozen or so legislators of Greek heritage rammed through the 1974 embargo, which was lifted only last year. The same "Greek lobby" was instrumental last week in blocking House approval of a $50 million military grant to Turkey. Since 1974 two leaders of the lobby have acquired more power-but no more sympathy for the Turkish position. Congressman John Brademas of Indiana...