Word: fourfold
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...meeting in Martinique, Ford and French President Valéry Giscard d'Estaing reached an agreement that should end a debilitating, year-long sparring match between Washington and Paris over a vital matter: how to deal with the OPEC (Organization of Petroleum Exporting Countries) cartel responsible for the fourfold rise in oil prices that has so shaken the industrial economies. The U.S. has maintained that the consuming countries must form a united front to deal effectively with the OPEC cartel. Unhappy with this implied strategy of confrontation, the French have urged tripartite negotiations on mutual cooperation among major consuming...
...consumer boycott scheduled to end Dec. 10. Some supermarket chains, like Tradewell Stores Inc., which operates in California, Oregon and Washington, are urging customers not to buy sugar at all; in one week the chain's sugar sales dropped 75%, according to Tradewell President Al Thompson. Moreover, the fourfold increase in retail sugar prices so far this year has fattened company profits remarkably, but those profits have also attracted increasing political heat, including Government hearings, a federal grand jury inquiry and a Justice Department investigation...
Since the energy crisis and a gargantuan fourfold increase in petroleum prices, however, such chuckles have died away. Instead, there is anger that prices artificially set by the 13 members of the Organization of the Petroleum Exporting Countries give those nations massive revenues to invest in the West. The new and powerful image of the oil oligarchs has prompted many menacing scenarios, including New York magazine's recent fantasy about a successful military conquest by the Shah of Iran...
Like mammoth prehistoric birds, Pan American World Airways and Trans World Airlines face a threat of extinction because of changing conditions, notably a fourfold rise in fuel prices and a deep slump in international air travel. Having failed in an attempt to wangle Government subsidies to keep them aloft, the two carriers last week unveiled the first move in their strategy for survival: a far-reaching, five-year swap of overseas routes that would drastically reduce head-on competition between the American giants and, they hope, allow them to fly planes somewhat more fully loaded (though each would still...
...officials believe that the time for concerted action against OPEC may be approaching, in part because there is currently a surplus of 1.5 million bbl. of oil per day?or 2.7% of the total used ?on the world market. Reasons: the fourfold increase in the price of oil has already led to a drop in consumption and the world's slowing economies use less energy than before. Even though several OPEC members reduced their output in a countermove, oil storage tanks in the consuming nations are nearly filled to capacity. Moreover, unlike the situation during last winter's embargo...