Word: excessives
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...justification was that the worldwide steel glut had forced many foreign governments to subsidize their mills, allowing them to charge artificially low prices in the U.S. In exchange for the VRAs, U.S. steelmakers agreed not to bring trade suits against overseas competitors and promised to plow excess cash into modernizing...
Stanford economist Ronald McKinnon, an expert on foreign trade and finance, concurred with that view. "A declining dollar is nothing more than a reflection of an easy-money policy," said he, adding that the excess of Government borrowing and spending increases U.S. demand for imported goods. At the same time, currencies that are strong in relation to the dollar have made American farms, factories and real estate tempting to foreign buyers, says McKinnon, "so we conduct something of a fire sale" to pay for imported merchandise...
...trade officials contend that the E.C. ban is motivated in large part by protectionism, since European beef producers are raising more cattle than they can sell locally or abroad. E.C. nations added 140,000 tons of excess beef to meat-locker stockpiles last year, bringing the total surplus to more than 723,000 tons, or nearly two months of European consumption...
...would have an average surface temperature of only 0 degrees F instead of 59 degrees F. Reason: like the glass panes of a greenhouse, CO2 molecules are transparent to visible light, allowing the sun's rays to warm the earth's surface. But when the surface gives off its excess heat, it does so not with visible light but with infrared radiation. And since CO2 absorbs infrared rays, some of the excess heat stays in the atmosphere rather than escaping into space. How much heat is retained depends on how much...
...faster than plants and oceans, which absorb the gas, could handle it. In the early 1900s, people began burning oil and gas at prodigious rates. And increasing population led to the widespread cutting of trees in less developed countries. These trees are no longer available to soak up excess CO2, and whether they are burned or left to rot, they instead release the gas. By the late 1800s atmospheric CO2 had risen to between 280 and 290 parts per million. Today it stands at 350 p.p.m., and by 2050 it could reach 500 to 700 p.p.m., higher than...