Word: important
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Although the report does not charge that the oil companies conspired to produce gasoline shortages, it does assert that they have used them to "eliminate competition." Over the years, the report says, tax regulations, depletion allowances and the now suspended oil-import quota system have allowed the 20 biggest firms-those that control most domestic crude production, proved domestic reserves, refining capacity, pipelines and gas stations-to make tremendous profits at the production level, while holding down supplies and locking out independent refiners...
ALAS, when we come to the two main players, there isn't a hint of virtuosity. If the AST wanted to import someone to play just the single role of Macbeth this summer, why pick Fritz Weaver? Fifteen years ago Weaver attempted Hamlet here, without much success. He hasn't improved in the interim...
This year India may have to import as many as 6,000,000 tons of wheat. A drought has forced the closing of some Indian factories and the cutting of hydroelectric power to others. Losses are estimated in the billions of dollars...
...many surplus dollars are sloshing around abroad. With greenbacks continuing to decline on money markets, foreign currency buys more investment dollars than in many decades. Europeans and Japanese are also opening up within the U.S. because they fear that rising protectionism among American labor leaders may lead to stern import barriers...
...price of his barrel goes down. If all the uncertainties drive an investor to drink, he cannot even readily imbibe his own booze. To bring it into the U.S. he would, in effect, have to start a liquor company, and go through the tortuous process of getting an import and bottling license from the Treasury Department...