Word: import
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Dates: during 1970-1979
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Carter called the U.S. "the most wasteful nation on earth," adding: "We waste more energy than we import." Claiming that "we can't substantially increase our domestic production," Carter said the U.S. will become perilously dependent on increasingly costly imported oil. "We could endanger our freedom as a sovereign nation to act in foreign affairs," and we would "constantly live in fear of embargoes." There would be pressure "to plunder the environment" in a crash program to expand nuclear plants, strip mining and the drilling of offshore wells. Regions within the U.S. would compete with each other for supplies. "Inflation...
...that the failure of industrialized nations to develop alternative power sources will result in a monumental energy crisis by the mid-1980s, involving widespread industrial shutdowns and a perilously declining growth rate. In Spain, for example, the economy is already suffering from the impact of a $4.5 billion oil import bill last year...
...trying to encourage Japanese investment in his state. Says Carter to the group: "I told Premier Fukuda when I saw him recently that I would like Japan to share its great wealth. We would like to have you invest here. It's hard for me to avoid greater import restrictions when there is such an imbalance of trade between our countries...
...such a mind. The bankers can't even follow." Adela spun sugarplum stories of wonderful "deals" through which she could help people multiply their money by buying land in Spain and selling it for huge markups, or by shipping Japanese cars to Indonesia, or by getting into the import-export trade. And a lot of folks, credulous and captivated, begged to get in on the action...
Letters of credit facilitate the transfer of money from foreign banks to American banks when foreign companies import American goods...