Word: imported
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This year, Levy calculates, consuming nations will pay $100 billion to import oil, v. $20 billion in 1972. For poor countries, the oil bill will more than offset all the foreign aid they get. Even industrialized nations, says Levy, must either cut oil imports enough to cause recession or run gargantuan trade deficits financed by borrowings that eventually will pile up an insupportable debt. Though Levy does not use the words global depression, he contends that the world economy "cannot survive in a healthy or remotely healthy condition if cartel pricing and actual or threatened supply restraints of oil continue...
...economics, Stamas joined Exxon in 1960 as a financial analyst, rose to head its international petroleum planning division before a six-month tour of duty in the U.S. Commerce Department. Before joining the public-affairs department in 1971, Stamas spent nearly a year as chief economist working on oil-import policy at Exxon...
Romeo and Juliet is unique in Shakespeare's output for containing, in the Chorus' Prologue, the playwright's own view of the overall import of the sad outcome, which he attributes to evil destiny and the parents' feud. Romeo and Juliet themselves are not tragic figures in the classical sense. It is the parents who exhibit a "tragic flaw," and thus are made to suffer through the needless loss of their children...
...more from its present lofty $11.65 per bbl. They fear that sky-high oil prices will create unmanageable trade deficits for their customers. The Saudis also hope that by cutting oil prices they can negotiate a better deal on the technology, goods and services that they hope to import from industrialized nations, as well as hold back the development of alternate sources of energy...
...most of its 40 years, the Export-Import Bank has enjoyed a quiet, effective and even profitable existence. Started in 1934 by President Franklin D. Roosevelt to finance American trade with the Soviet Union, which the U.S. had just recognized, the bank was soon authorized by Congress to grant credits to other countries so that they could buy more U.S. goods and services. By using its $20 billion lending authority to extend credit to countries and companies on which commercial banks would not take a risk, Ex-lm has helped expand U.S. exports. It facilitated a record $10.5 billion sales...