Word: lasts
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Dates: during 1970-1979
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...really mean to say a hundred billion or so? And did he threaten the oil companies earlier with "punitive" legislation when he actually only had an "unfriendly" law or two in mind? These were some of the weighty issues that preoccupied the policymakers on the energy front last week, as attention continued to be focused on Big Oil's current gusher of profits...
Although the national need now is for effective leadership that can begin cutting the U.S.'s dependence on foreign oil without further delay, the President and Congress spent much of last week quarreling over what to do about oil industry profits. The low point was reached on Monday in Providence, R.I., when Carter told a conference of Northeastern state officials that the Senate's efforts to water down his proposed windfall profits tax "could become a trillion-dollar giveaway to the oil companies...
Carter's latest episode of rhetorical overkill may have won him some election campaign points, coming when oil companies have been announcing unexpectedly high profits. Last week, following reports by other major oil companies of large third-quarter profit boosts, including Exxon's 118% rise to a record $1.1 billion, the Standard Oil Co. of California announced a quarterly gain of 110%. Ten of the largest U.S. oil companies showed third-quarter gains averaging...
...President's move to hit out at the oil company targets was especially ill-timed, since many of his energy measures seem at last to be moving through Congress. Said one Energy Department official: "I can't believe Carter's pulling this stuff. His rhetoric can't do any good, and it could do real harm." The House and Senate windfall profits tax bills will soon go to a conference committee; compromise legislation to form the Energy Mobilization Board is on the verge of being worked out; and the Senate now seems ready to approve...
...same time, though, legislators last week took a step that spotlights Washington's weakness on energy policy. The Senate voted to give Congress the power to restrict any future presidential move to limit oil imports. Only last July, the legislators were applauding the President's statement that he would use quotas to ensure that the U.S. would never import more oil than...