Word: growth
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Dates: during 1970-1979
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Most outlandish and un-American of all?and disturbing to those who believe that growth in energy use is a necessary element in the improvement of society's well-being?conservation, however limited, is beginning to be a hopeful factor in the nation's energy calculations. To what degree the flammable situation in the Middle East, the world's largest oil- producing region, plays a part remains uncertain. Price is a key factor and it keeps going up. Administration officials are confident that heating-oil supplies are sufficient to tide the nation through the winter, despite the U.S. declaration...
Economic expansion, which depends on cheap fuel, is slowing almost everywhere. Taiwan's growth has declined from 12% last year to 8%, and South Korea's from 12.5% to 6%. Oil-fueled inflation is raging. Taiwan's wholesale prices rose 3.5% last year, but are expected to jump 16% this year; at least ten points of the total are directly attributable to increased energy costs. Many Third World leaders echo Kenya's Kibaki: "We have had to postpone vitally needed development projects. We are not importing any nonessentials...
Egypt's domestic economy is a mess. Despite a growth rate of about 8% this year, the bulk of the country's 40 million people remain desperately poor, with an average income of under $300 (vs. $2,700 for Israel). In the past year, thousands of peasants have abandoned the land to jam into the already swollen cities in hope of sharing in a peace-bred boom. Thus unemployment is soaring at a time when inflation is hovering above...
That was as old as anyone should be, concluded Barrie. "Nothing that happens after we are twelve matters very much," added the little Scot, whose body cooperated by arresting its growth at 5 ft. But the adult world mattered when, after graduation from Edinburgh University, he was expected to prepare for a solid job and search for a mate. The first prospect filled him with gloom, the latter with dread. He wrote in his notebook: "Great-est horror-dream I am married-wake up shrieking...
...result of OPEC's policies, worldwide inflation has been sent soaring to ever increasing heights. Meanwhile, global economic growth has stalled and the international financial system itself has been thrown into turmoil. In 1980, oil-importing nations expect to hit what economic jargoneers have labeled a "synchronized recession." Now no one can be sure how high the cartel will push oil prices beyond their present official maximum of $23.50 per bbl., but demand for petroleum makes a substantial increase certain. Single shipments of crude are being sold on the spot market for as much...