Word: million
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Dates: during 1970-1979
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...President fought back with economic reprisals. He ordered a stop to all purchases of Iranian oil, 700,000 bbl. per day, or 4% of U.S. consumption; he froze all Iranian government banking assets in the U.S. The Administration has not officially interrupted the flow of the nearly $500 million worth of food the U.S. ships to Iran annually. But the International Longshoremen's Association instructed all its members not to load any vessels bound for Iran, and the giant American Farm Bureau Federation offered to support a total boycott on food exports. Some militant superpatriots talked of blockading the Iranian...
...take some specific action of support, the House voted to cut off all military and economic aid to Iran, including $20 million in U.S. funds allocated through the U.N. Development Program. The tally...
...make decisions on anything but issuing paychecks. Chaos prevails at the docks and at highway customs posts along the main truck route from Europe. Inflation is running at 40%, unemployment at 25%. In Tehran the situation is further aggravated by the migration since the revolution of perhaps 1.5 million people to the city, bringing the population up to as many as 5 million...
...fact, an interagency White House task force last week reported that there is a "substantial risk" of a drop in OPEC output of as much as 3 million bbl., an amount just about equal to total current Iranian production. The drop would be caused by expected cutbacks early next year by Saudi Arabia, Kuwait, Iraq, Nigeria and Libya. Thus oil prices stand to rise considerably even if Iran does not reduce its current production...
...obvious U.S. tactic might be to embargo food exports to Iran, which amounted to nearly $500 million in the fiscal year ended last September. The American Farm Bureau Federation would support President Carter if he should cut off grain shipments, as he could do under the International Emergency Economic Powers Act. Cries of "Food for crude!" are starting to be heard. The White House, however, has no present intention of halting food supplies. If the U.S. later plugs up this cornucopia, Iran will be less vulnerable than it once was. As a Persian grain trader says, "We are earning...