Word: expand
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Dates: during 1970-1979
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...exemptions, using, says Dunlop, "every conceivable argument that the mind of man can devise." At first, Dunlop and others emphasized granting exemptions when industry leaders promised reasonable price stability in exchange. Now the Administration hope is that by allowing prices to rise, the COLC will encourage companies to expand production and let domestic buyers compete with foreign purchasers, who can already pay any price that they wish. Explains Shultz: "Sometimes it makes sense to peel off [controls] even if you know there will be some large price increases...
...scarcity of ingredients, including natural gas, and partly because foreigners were buying up so much of what was produced domestically by paying $25 a ton more than the controlled U.S. price. Dunlop got only a grudging commitment that fertilizer firms would reopen a few shuttered plants and expand production at some other factories. Price controls on fertilizer were nevertheless lifted altogether last month, and since then the companies have boosted their prices 30% or more...
...market forces and cannot be used fairly. They believe that a new agency should concentrate on stopping inflationary actions taken by the Government. In the recent past, bureaucratic infighting helped temper prices. Earlier this year, for example, the COLC practically forced Agriculture Secretary Earl Butz to allow farmers to expand acreage of several crops. As a result, the U.S. is enjoying a record harvest of food, which should ease the continuing rise in supermarket prices. It is doubtful, however, that an agency without a mandate to blow the whistle on private wage-price behavior could do an effective...
...price, to $7.20 per bbl. In the past three weeks, Nigeria's has almost doubled, to $8.40 per bbl., and Indonesia's has increased 20%, to $6 per bbl. Price controls on U.S.-produced petroleum will be slowly loosened in the near future in order to tempt oilmen to expand exploration and boost supplies. Rising oil prices will lift the cost of such other fuels as propane, natural gas and even coal...
...fear that their shore fronts will be ruined by big black derricks on the blue horizon, by the clutter of docking facilities and possible oil spills. Even if all opposition vanished, it would take three to five years to find and drill new wells offshore. A surer way to expand domestic sources would be for Congress to finally approve the Alaska pipeline bill, enabling the nation to tap the rich North Slope fields, which are believed to have at least 50 billion bbl. of recoverable oil. If the pipeline were in operation today, it could be supplying...