Word: fueled
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Dates: during 1970-1979
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...Caracas, Valentin Hernandez, Minister of Energy and Mines, summoned apprehensive oil company executives to his office and bluntly told them that Venezuela intended to lift prices an average 14% on all its oil exports. Later, the government announced that it would increase only the cost of heavy fuel oil, which accounts for much of the country's exports. Oilmen now expect that the broader crude oil increases will be formally posted later this month when existing three-month contracts are about to expire. For the U.S., which relies heavily on Venezuelan imports, the increases already announced could add from...
...hurt by what has already happened. The Morgan Guaranty Trust Co. estimates that oil prices in the U.S. will increase at least 15% by year's end. That would lead at a minimum to a halfpoint jump in consumer prices because oil is used not only for fuel but also as a raw material in chemicals, synthetic fibers and many other products. Rising fuel charges also will prod workers to demand more pay, which businessmen will pass on in higher prices. And as more dollars flow abroad, the greenback's value will tend to slump against other currencies...
...some companies may benefit. Short-haul airlines expect to win new passengers because rising gasoline prices make it cheaper to fly than to drive. But long-haul lines may have to cut service to small cities. T.W.A. last week scrubbed five flights out of Kansas City for lack of fuel. The auto industry stands to benefit because rising gasoline prices are likely to move shoppers to buy fuel-efficient cars. That will help automakers meet strict federally mandated "fleet average" mileage standards for vehicle sales. On the other hand, fast-food chains, restaurants and hotels will suffer if Americans drive...
Carter simply sent to Congress a weak program of standby fuel-saving measures that included a ban on Sunday gasoline sales, a requirement to turn down thermostats in public buildings and restrictions on illuminated outdoor advertising. Whatever limited value the package may have had was undercut when the President told a press conference: "We don't have any present intention of implementing any of those measures...
...border that Amin barged across last fall in an effort to buck up his tough-guy image by seizing a piece of Tanzanian territory. For weeks Amin's regime had been pinpricked by guerrilla attacks around the country and more seriously hurt by a near total shutdown of fuel supplies from Kenya. Oil truck drivers have refused to drive into Uganda while the fighting continues...