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...crude-oil allocation plan, which was ordered by Congress, has been an "unmitigated disaster." Simon last week called on Congress to suspend the program for 90 days to allow time to amend the system. Such a move would temporarily enable the majors to keep all the oil they import for themselves and should persuade them to step up imports. One possible change in any new allocation plan: only small refineries turning out no more than 30,000 bbl. per day would be permitted to buy from companies in the U.S. That limitation would probably satisfy the majors, whose main complaint...
...billion today, and three Latin countries-Mexico, Brazil and Venezuela-are among the U.S.'s twelve biggest trading partners. The Latins will argue that since about half of Washington's estimated $1.9 billion trade surplus in 1973 came from their countries, the U.S. should import more goods from them. They will also voice some predictable complaints about interference in their countries' internal affairs by U.S. companies. ITT'S well-documented meddling in Chilean politics is a green and painful memory throughout the hemisphere. Even if Kissinger accepted all of the Latin arguments, however, he would still...
Cheaper by Sea. The longer-term and more important issue is not who gets the taxes but who gets the oil. Because a pipeline from western Canada feeds the U.S. but no pipelines directly serve eastern Canada, it has been cheaper for the East to import oil by sea from Venezuela and the Middle East than overland from the West. But rising import costs are making western oil economical in the East, and by the end of 1975, a pipeline extension will supply the East directly. When it opens up, western leaders would like to continue selling...
...seems a little like dressing Gary Grant in bib overalls. The Duke messes around casually with playing the title character, a Seattle cop who quits the force to press a vigorous one-man investigation of his partner's death. His searches lead to discoveries of gangsterism in the import business, corruption in high places, lax moral standards in corporations and other illuminations that come as more of a surprise to Wayne than anyone else...
...detente with the Americans. Perhaps coincidentally, on the same day he ousted Heykal, Sadat liberalized Egypt's foreign investment laws, encouraging outside businessmen and guaranteeing their investments won't be nationalized. In the same liberalization move, Sadat denationalized Egypt's movie theaters and made it easier for them to import American films. Between Lawrence of Arabia and Exodus, he hopes that popular support for settlement with Israel is bound to grow...