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...really be new money, merely cash that the Government would collect more speedily than now planned. Far more important, the President will slap a $4.62 per bbl. fee on imported oil, a move that he can take without any new legislative authority. Motorists will pay an extra 100 per gal. for gasoline at the pump, probably beginning in May. The President presented this mostly as a conservation measure to prompt Americans to reduce their "extravagant" use of gas. But another motive is to raise an extra $10 billion a year, to "be held in reserve" either to reduce the national...

Author: /time Magazine | Title: Jimmy Carter vs. Inflation | 3/24/1980 | See Source »

...than one-third of them in an eight-year spurt following 1966, when federal funds flowed freely and administrators hustled to accommodate the baby boom. Cutting corners with low-grade materials, designers often created buildings that aged prematurely and consumed heating oil as if it would cost 160 per gal. forever. With their budgets severely strained, school officials have paid only for the absolute necessities: soaring energy bills, teachers' salaries, research costs. As a result, maintenance budgets have shrunk proportionally, just as buildings and machinery have begun to fall apart. Georgia's state university system, for instance, estimates...

Author: /time Magazine | Title: Education: Dilapidation in Academe | 3/17/1980 | See Source »

...tanker Concho chugged into the harbor of Chelsea, Mass., late last month carrying 8.4 million gallons of heating oil. An everyday occurrence, with one important exception: the fuel on board cost only 47? per gal., or about two-thirds the normal 75?-per-gal. wholesale price. The importer was the nonprofit Citizens Energy Corp. (CEC), headed by Joseph P. Kennedy II, 27, eldest son of late Senator Robert Kennedy. A vociferous critic of the energy firms' "greed," the young Kennedy was out to prove that oil companies were ripping off the public...

Author: /time Magazine | Title: Business: Bargain Fuel | 3/17/1980 | See Source »

...Washington (he has been a Senator since 1967). But he is suffering severely from a late start and showing little if any talent for campaign organizing. John Anderson's proud independence and stubborn insistence on advocating unpleasant proposals?he hammers away on the need for a 500-per-gal. gasoline tax to reduce energy consumption?have won much favorable media attention and a core of devoted followers. But the core remains small. John Connally's smooth wheeler-dealer conservatism has excited corporate executives but not the electorate; he has been reduced to staking everything on a strong showing...

Author: /time Magazine | Title: Reagan's Rousing Return | 3/10/1980 | See Source »

...weight and save fuel, Charles Lindbergh flew the Atlantic in 1927 with neither a radio nor a parachute. Half a century later, airlines are still trying desperately to conserve fuel. The reason right now is that the average cost of jet fuel has soared from 400 to 850 per gal. in the past twelve months. This year the twelve largest U.S. carriers will spend almost $10 billion, about 30% of their operating budgets, for jet-engine fuel. That is an increase of 20% over last year. Fuel has become so expensive that six of the ten largest lines are expected...

Author: /time Magazine | Title: Business: Fuel Takes Off | 3/10/1980 | See Source »

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