Word: marketeers
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Dates: during 1970-1979
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...answers will not be simple. Oilmen disclaim any wrongdoing and insist that the problem is mainly the result of OPEC members' decision to prop up high oil prices by reducing exports. Because oil shipments from Iran take about two months to reach the U.S. market, the loss caused by the shutdown during the revolution-about 700,000 bbl. per day-did not affect American consumers until March. The American Petroleum Institute estimates that the U.S. now is short as much as 1 million bbl. of imported oil per day. Iran resumed exports in March, but this oil will...
...hold down domestic prices, the Department of Energy urged oil companies not to buy crude on the spot market, where prices are up to $12 higher than the world average of $18 per bbl. There is some debate among oilmen over the degree to which this policy affected supplies. In any event, because of a change in DOE policy last week, the companies are now free to buy on the spot market, though several of them are reluctant to do so until the Government assures them that they can pass the extra costs on to consumers...
...nightmare from taking place. However, it did occur. If I were to say that the change has had no damaging effect at all, that would be wrong. There are still people who feel hurt psychologically. The two weeks after Dec. 16 [however] were the most unstable period. The stock market dropped, and the exchange rate between the U.S. dollar and the New Taiwan dollar on the black market rose to NT $43 for $1. Domestic and foreign investors seemed to be reconsidering their investments. But it seems to us that since January the situation has improved...
...purpose was simply to fool the Americans and other foreigners, to attract their attention. The same is true of the "Big Character Posters" on Democracy Wall. The Four Modernizations were designed to give the outside world the impression that the mainland was going to turn into a huge market. But in fact no country can be modernized unless it can first modernize its thinking and its political system. Unless Communist China does this, it can never succeed with the Four Modernizations...
...offer. He charges that they have been under pressure all along to favor the Aga Khan's bid, which was well below what a public auction might have realized. The prince got some first-class mares, Murty says, but still was not satisfied. "He wanted to corner the market on the Boussac mares." The Aga Khan's reponse: "I don't see why I should be heaped with insults just because Murty took a bad business risk." Had Murty "made a more reasonable bid in the beginning, none of this would have happened...