Word: foreign
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Dates: during 1970-1979
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...Democratic Senator Paul Tsongas of Massachusetts was pleasantly surprised by the turnout of some 250 people in a hot, stuffy school auditorium in Harwich, on Cape Cod. He caught not a single question about foreign affairs or even about next year's presidential election-despite the fact that Ted Kennedy's Hyannis Port home is only twelve miles away and Tsongas has said that he might run as a stand-in for Kennedy in the Massachusetts Democratic primary. The dominant topics, instead, were inflation and energy. "What specific steps do the President and Congress plan to take about...
Between 1889 and 1970, the nation ran a trade deficit only once, in the midst of the Depression, in 1935. Yet since 1971, the combination of low productivity and high inflation has reduced both the supply and the competitiveness of U.S. products. Consequently, export growth has been sluggish, and foreign goods have poured into the U.S. at an ever increasing rate. Coupled with the nation's increasing dependence on foreign oil, this has meant that the U.S. has managed to eke out a trade surplus only twice since 1971, running up a cumulative deficit of $59 billion in those years...
...McDonnell Douglas must place their orders far in advance to have enough on hand to meet aircraft delivery schedules. Metalworking machinery is also scarce, as are the steel forgings needed by automakers. That, in turn, has helped create shortages of small, fuel-efficient cars, and boosts imports of competing foreign models. There is even a squeeze on fans for people who want to save money by turning off air conditioners, and shortages of insulation for homeowners who are eager to cut winter fuel bills...
...book's basic thesis, which was reported in Foreign Affairs and TIME last spring, is both conventional and incontestable. It is that the nation's four basic fuels-petroleum, natural gas, coal and nuclear-are either depleting or face strong public opposition, and new energy sources must be phased in before the old are totally exhausted. The surprising aspect of Energy Future is its optimistic assessment of the potential of solar energy and conservation to carry the load as those "new sources...
...synthetic oil from each ton of coal, vs. 1.26 bbl. at present. As soon as that plant is finished next February, construction will start near by on Sasol III. Once the three plants are in operation, they will save an estimated $400 million a year in foreign exchange and produce about...