Word: longer
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Dates: during 1970-1979
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...been violated in this instance." The outrage in Tehran suggests that this vital principle of discourse between nations may be violated again in this age when terrorism is becoming commonplace. Says Beers sadly, "The old rules simply don't apply any more. In fact they appear to no longer exist...
Late in the week Iran further complicated the situation by declaring that American companies would no longer be permitted even to buy Iranian crude, let alone deliver it to the U.S. The petroleum will be sold instead to any non-U.S. oil companies that want it, leaving the U.S. firms to scrounge on world markets for whatever available non-Iranian cargoes turn...
...prices go as far as $35 per bbl., the impact on oil inflation and the world economy would be severe. U.S. consumer prices would continue rising at a dizzying double-digit pace, forcing the Federal Reserve to stick by its anti-inflation policy of sky-high interest rates much longer than expected. The almost inevitable result: a deeper recession than so far forecast. Despite slumping growth, the nation's oil import bill, which is projected to total $61 billion this year, would leap to $96 billion in 1980. That in turn would keep the dollar's value dropping...
...Soviets concede privately that, in the longer term, the turmoil in Iran has potentially worrisome consequences for the U.S.S.R. Islamic fundamentalism is anathema to Communism, and the Ayatullah is religiously akin to the Muslims of Soviet Central Asia just across the border. On the other hand, the National Security Council last week pondered the possibility that anarchy in Iran could lead to a radical leftist takeover. No doubt the same possibility has occurred to Iran watchers in Moscow. That helps explain the ambiguity of Soviet behavior so far: provocative Farsi-language broadcasts from a Soviet radio station in Baku, combined...
...Russell Long, the Finance Committee chairman who is the floor leader of the Senate debate, says the tax is the political cost that the energy industry must pay in order to end crude oil controls. Long, who himself has extensive oil holdings, argues further that the nation can no longer afford a witch hunt against the petroleum companies. Last week he told a cheering Manhattan meeting of energy producers: "Those who defame us, curse us, abuse us and lie about us, would be in one hell of a fix without us." The Senate is expected to pass a windfall profits...