Word: jump
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Dates: during 1970-1979
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...will readily confess that the Shah of Iran was far from a saint, but the people of Iran, by ousting the Shah and welcoming Khomeini, have chosen to jump out of the frying pan and into the fire. And now they want to accuse the U.S. of lighting the stove...
...Saudi move amounted to a startling 33% jump from its previous price of $18 per bbl., to $24, and it means still more inflation for the world. Other so-called OPEC moderates also posted increases. Venezuela, the cartel's fourth largest producer, moved from $20 per bbl. to $24, while Qatar and the United Arab Emirates went from approximately $21.50 to about...
...Cabinet members to ride bicycles to work. In Rio de Janeiro, Brazilian cab drivers crowd the streets and snarl traffic during a three-day strike to protest a 58% rise in gasoline prices. Meanwhile, riots break out in the Dominican Republic, and three people are killed after gas prices jump for the third time in a year. Says Colombia's President Julio Ayala: "One OPEC price rise is equal to ten subversive blows...
...expansion, which depends on cheap fuel, is slowing almost everywhere. Taiwan's growth has declined from 12% last year to 8%, and South Korea's from 12.5% to 6%. Oil-fueled inflation is raging. Taiwan's wholesale prices rose 3.5% last year, but are expected to jump 16% this year; at least ten points of the total are directly attributable to increased energy costs. Many Third World leaders echo Kenya's Kibaki: "We have had to postpone vitally needed development projects. We are not importing any nonessentials...
...further big rise in price would do shocking damage. For example, a jump to $30 per bbl. would lift OPEC's total 1980 revenues to about $300 billion, constituting a huge new international tax on economies everywhere...