Word: import
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Dates: during 1980-1989
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...theater these days, Lonely Street originated at a regional company, Atlanta's Alliance Theater, where Deer is literary manager. Director Stephens transferred with the show, as did Set Designer Mark Morton and half the cast. The production is impeccable, and in a season with a dearth of worthy British imports, the main stem must be grateful for an American "import" of this caliber...
President Reagan, however, remains adamantly opposed to any increased tax. Some economists believe that the levy could harm the international competitive position of U.S. companies. Says Michael Tusiani, a New York City energy consultant: "An oil-import fee would make the cost of energy more expensive for U.S. manufacturers." The problem in passing a new tax into law would be persuading the whole country to accept an additional burden that in the short run appears to help only the J.R. Ewing types. "Most Americans seem to have little sympathy or understanding for the plight of the U.S. oil industry," says...
Another backstop against an OPEC-induced shortage is the strategic petroleum reserve started in 1975 by President Ford. By the end of May, the U.S. will have filled a series of hollow salt domes in Louisiana with about 500 million bbl., enough to meet U.S. oil-import needs for 100 days. The Reagan Administration has proposed stopping short of the final goal, 120 days' worth, as a way of cutting the federal deficit. But at these oil prices, the Administration is now thinking of continuing to stock up before the discount binge ends...
...continues to go from strength to strength. In the first two months of this year, exports were up an impressive 38%, prompting some economists to talk about 9% growth for 1986. That mini-miracle has been assisted by the drop in the price of oil, a major South Korean import, and by the steady rise of the yen, which handicaps rival Japanese products...
...Instead, resource markets are glutted and stockpiles are still growing despite the lowest prices for commodities since the Great Depression. Food supplies have likewise increased, in large part because of heavy subsidies for production and dramatic improvements in agricultural techniques. Only the Soviet Union among major nations needs to import more and more food, but even so, Drucker notes, world agricultural surpluses are so large that prices may stagnate indefinitely...