Word: exportability
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...firms, Occidental Petroleum and El Paso Natural Gas, be brought into the gas exploration venture because of their expertise in that activity, and that the U.S. put up an equal amount of money for the venture. The Soviets are amenable, but Congress lately has been opposed to granting the Export-Import Bank credits necessary for U.S. participation. Some legislators object to Soviet treatment of dissident intellectuals and Jews; others feel that the money would be better spent inside the U.S. In addition, the idea of lending billions of dollars to the Soviets at low interest when American businessmen must...
...that the Soviets last month abandoned their plan for an east-Siberian oil and gas pipeline and instead plan a railroad that would run roughly parallel to the Chinese border some 250 to 300 miles inside Soviet territory. Among other things, it would carry Siberian oil to ports for export to Japan. The Chinese are probably worried by the idea of a railroad, which also could be used to carry troops and arms. Japanese relations with China have been improving recently, and Premier Kakuei Tanaka is unlikely to do anything to jeopardize that budding friendship...
...cartel, named Union de Paises Exportadores del Banano (Union of Banana Exporting Countries), was formed by Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Nicaragua and Panama. It proposes to slap a $1 export tax on every 40-lb. box of bananas leaving Latin America, 50 times the present 20 tax paid by major exporters. In the U.S., which is the world's top banana in imports of the yellow fruit, the tax boost could raise retail prices from the present 16%0 per Ib. to as much as 190. The International Longshoremen's and Warehousemen's Union...
...banana republics claim that they need extra revenue partly to pay the higher oil prices posted by the petroleum cartel. The export price of bananas has remained flat for two decades at about 80 per Ib., while retail prices have climbed steadily, mostly to the benefit of three U.S.-owned companies that grow, ship and market the fruit: United Brands, Del Monte and Standard Fruit & Steamship. Acting singly, the growing countries could not get a bigger slice of the banana pie. Unlike petroleum, bananas cannot be stockpiled; in fact, they must be eaten within twelve days of being picked...
Fragile Unity. When the banana exporters bunched together, the three companies indicated that they would pay the proposed tax. Yet the banana growers already are having trouble holding ranks. World demand for bananas is not rising appreciably, and General Guillermo Rodriguez Lara, President of Ecuador, the most prolific banana producer (90 million boxes last year), fears consumer resistance if prices rise too rapidly. He pulled his country out of the cartel almost as soon as it was formed and announced that he would not raise export taxes. If he sticks to his plan, the banana republics may wind up illustrating...