Word: lesses
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Dates: during 1970-1979
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...much flair for leadership or talent for using the formidable powers of his office. Then Jimmy Carter began to turn things around at Camp David, not during the deservedly acclaimed summit in September with Israel's Menachem Begin and Egypt's Anwar Sadat, but at a far less visible conference in April with Cabinet members and top White House advisers...
...total of $5.2 billion in loans and withdrawals. Surprisingly, many American businessmen do not blame OPEC for raising the price as much as it did. "If you take an 18-month time period," says Carlton Jones, manager of energy analysis at Pace Consultants & Engineers in Houston, "the increase is less than U.S. inflation and doesn't cover the dollar devaluation during that time period. The dollar has gone down more than the price increase." Fred Hartley, president of Union Oil in Los Angeles, declares: "It's our fault, not OPEC's. OPEC has behaved as any other...
...even with the decline of the dollars they hold in such abundance, OPEC nations might not have agreed to such a large price increase if Iranian production had not been disrupted. When rebellion broke out there in September, output fell from 6 million bbl. a day to less than half a million. Though Saudi Arabia tried to fill the gap with its own surplus, that did not suffice. "The drop in production in Iran was the important factor in the price boost," says a U.S. Treasury official. "The Saudis are able to hold off the price hawks as long...
Even so, the Administration wonders if its closest friend in OPEC did all it could to moderate the price increase. Saudi Arabia's Oil Minister Sheik Ahmed Zaki Yamani is the unofficial leader of the oil world; his word is powerful. This time, however, he was considerably less argumentative than usual. By the time the first session broke up and the ministers put away their pocket calculators and journeyed in heavily guarded motorcycle caravans to dine at the air-conditioned palace of Abu Dhabi's Sheik Zayed bin Sultan al-Nahayan, the new price had been virtually accepted...
...Less easily disposed of were some nagging questions about the episode, ranging from the whereabouts of millions of dollars amassed by Jones' cult to the exact causes of all those deaths. In the case of Jones, said Baltimore Pathologist Dr. Rudiger Breitenecker last week after examining the bullet wound in the cult leader's head, "it looks like a suicide...