Word: nationalizes
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Dates: during 1970-1979
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Continuing a rash of price-gouging moves by many oil nations, Nigeria, the fourth largest producer in the 13-nation OPEC cartel, indicated that it was planning to tack on an export surcharge of perhaps as much as 17%. That advance will add further pressure for a fresh round of inflationary increases early next week, when OPEC ministers plan to meet in Geneva. Indeed, by an ironic White House oversight, Carter is expected the same day to play host to the signing of the Egyptian-Israeli peace accords in Washington. Arab hardliners, such as Iraq, Algeria and Libya, could well...
...Ohio. After five years, $50 million in expenses and submission of more than 700 permits and applications, the company, which is part owned by British Petroleum, was abandoning its ill-starred effort to launch a $1 billion project that would have been of value to the entire nation. Sohio wanted to convert an unused 700-mile natural-gas pipeline to move Alaskan oil from Long Beach, Calif, to Midland, Texas, for further delivery to the energy-hungry Midwest...
Last-week the Business Roundtable, whose members are the chief executives of some 190 of the nation's biggest corporations, issued its long-awaited report on regulation costs. The study, conducted by the accounting firm of Arthur Andersen, was a significant measure of the actual financial impact of regulation as experienced by companies...
Arkansas Governor William Clinton has proposed an increase of 14% for teachers, contending that the raise is completely justified because teacher salaries in his state (current average: $11,146) are among the very lowest in the nation. Louisiana Governor Edwin Edwards says that he will seek a 10% increase for all state employees...
DIED. Per Haekkerup, 63, Danish politician and diplomat; of cirrhosis; in Copenhagen. As his nation's Foreign Minister from 1962 to 1966. Haekkerup lobbied for Denmark's admission into the Common Market (achieved in 1973), opposed the Viet Nam War and apartheid in South Africa...