Word: intendancy
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Welcome News. Whatever the actual level of Arab oil output, the Christmas announcement from Kuwait is still welcome news. Even if the January production goals represent no real increase from current output, their announcement at least confirms that the Arabs do not intend to squeeze supply so hard as to freeze the West and bring its industry to a halt. But there is a darker side to the Arab proclamations...
...industrial picture is equally gloomy. The government has revised its projected growth rate from 10.7% downward to 6%, but forecasts of zero or even minus growth abound for 1974. Last week's announcement by the Arab countries that they intend to cut oil pro duction another 5% in January could lead to a disastrous 20% to 30% shortfall in deliveries. Yoshiya Ariyoshi, chairman of the Mitsubishi-owned N.Y.K. shipping line, calls the situation an economic Guadalcanal-"the point of farthest advance where the steady retreat began." Like many other businessmen, he considers a depression a real possibility...
Although nothing that drastic is planned in the U.S., the Nixon Administration does intend to convert the present voluntary ban on Sunday gasoline sales into a mandatory prohibition once Congress passes the necessary legislation. So the economic and social effects of the European bans may offer a preview of the American future-distorted somewhat by the fact that Europe is far less dependent on the car than the U.S. is; many more Europeans than Americans have access to cheap, safe, clean and ubiquitous public transportation...
When Latin American countries attempt to control the extent of international acquisition, excess profits, monopoly practices, draining of natural resources, and wage levels, they invariably face opposition by U.S. business. Allende, for example, said that he did not intend to discourage all American investment, but only to gain Chilean possession of the country's most crucial businesses and establish firm controls over business practices and profits. U.S. business, through the U.S. government, pressured for political conditions favorable to its interests in Guatemala in 1954, Brazil in 1964, the Dominican Republic in 1965, and recently, in Chile...
...Algiers and the hard bargaining line taken by the Egyptians in the talks at Kilometer 101 can only unnerve Israel even more. According to a poll released last week by the Israel Institute of Applied Social Research in Jerusalem, 84% of Israelis are convinced that the Arabs still intend to destroy Israel. Says Jack Lewin-Epstein, a Jerusalem dental surgeon: "The Arabs are not out after square kilometers of land but for the destruction of Israel. When the Arabs tell me in one form or another, day and night, that they are out to destroy my state, why should...