Word: exporting
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Dates: during 1960-1969
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...Enough. During his first year, Sánchez maintained the principal lines of Munoz's development program. He scored a far-reaching triumph in concluding an agreement with Washington and Phillips Petroleum for construction of a major petrochemical complex that will export petroleum and petroleum-based products (TIME, Jan. 7). Economic growth has been held at nearly 10% a year, one of the highest rates in the world. Politically, Sánchez chose innovation. He elevated dozens of young, energetic officials to high posts. For the first time, the legislature was called into three special sessions. At his behest...
...what is more alarming, perhaps is that New York today draws even the New England business which should logically be Boston's. When, in November of '64, the Massachusetts Port Authority launched a campaign for Port of Boston Export Month they discovered that some 700,000 tons of general export cargo originating in Boston's immediate marketing area were being shipped via New York. (The campaign, incidentally, was wrecked by a Longshoremen's strike...
...port showed a surprising rate of growth. Between 1945 and 1959, the average volume of import-export cargo almost tripled. Construction and improvements involved huge expenditures, however, so the Massachusetts legislature terminated the Port of Boston as a government agency and in 1956 created the combined Massachusetts Port Authority. The Authority, which presently operates and controls Logan International Airport, Hanscom Field, Port of Boston properties, and the Mystic River Bridge (whose revenues are bigger than those of the port properties), is a curious mixture of business and government designed for the purpose of making the port a commercial concern, rather...
...suffered power blackouts when supplies ran low. Today, 94% of Australia's growing power needs are generated by coal, there is ample coke for the continent's expanding steel industry, and a quarter of last year's record 50-million-ton coal production was available for export...
...rising export trade made possible by new efficiencies has also created a need for big new coal harbors all along the Queensland and New South Wales coasts. At Port Kembla, for example, an $11 million facility loads ships at a 2,000-ton-an-hour rate, has cut loading time from four days to one. Cheaper coal makes Australia a competitive exporter, principally to Japan, which last year took 7,000,000 tons for steelmaking. U.S. coal still accounts for 48% of Japanese imports, but the Australian share has climbed to 30% and undersells U.S. coal...