Word: imported
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...solve the problem, the U.S. Government stepped in last week with more of the same distasteful medicine it has been pressuring the industry to swallow for months. Instead of cutting domestic production, it will insist that major oil companies chop back their imports of cheaper foreign oil under a "voluntary" 10% reduction program (TIME, Sept. 30). Having already rejected appeals by three companies (Tidewater, Indiana Standard Oil, Ohio Standard) for sizable boosts in their import quotas. Navy Captain Matthew V. Carson Jr., administrator of the program, also turned down Eastern States Petroleum Co. and Sinclair Oil Co., even though Sinclair...
...ideas, and the superficiality with which they are treated. They are so often bandied about lightly as a form of lip service that one cannot help suspecting that much of the so-called acceptance is really a subtle form of rejection, a protection against assimilation of their profound import...
...previous official predictions of $350 million. Even at the risk of unemployment from the tightening of money by the Bank of England fortnight ago, said Thorneycroft, Britain will defend the proud pound. To add to her resources, she will draw down a $500 million credit from the U.S. Export-Import Bank, can also call on her $738.5 million stand-by credit from the Monetary Fund...
FIRST U.S. SUPERMARKET in a Communist country proved such a thumping success at Zagreb Fair that Yugoslav government's export-import agency will buy the market's refrigerator display cases, prepackaging equipment, shopping carts and checkout stands for about $30,000, use them to start supermarkets of its own. More than 1,000,000 Yugoslavs trooped through U.S. supermart during 15-day fair...
Failure Ahead. There were plenty of signs last week that it might. The pressure against the quota came from companies that only recently began bringing in foreign crude. The quotas, based on the 1954-56 import level, squeeze them hard. Although allocated a total of only 262,600 bbl. daily, they imported 354,600 bbl. a day in August, estimate a 337,200-bbl. rate in December. Both Tidewater and Standard of Indiana appealed for quota boosts, held that the formula has actually cut their imports 22% below the levels they had planned to supply recently built U.S. refineries that...