Word: nationalizes
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Dates: during 1970-1979
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Frontier skirmishing between the two states began several years after South Yemen gained its independence from Britain in 1967. The people of the two Yemens consider themselves to be one nation, but the radically different political views of their governments have made reunion impossible. According to North Yemen, Aden mounted the latest invasion to halt an embarrassing exodus from the south-perhaps 20,000 people since last June. The North Yemenis also charged that the invading forces had killed "large numbers of women and children" in an assault led by Soviet-supplied planes, tanks and artillery. Although claims to captured...
...learned anything from its energy agonies? Apparently not. Five years after the Arab embargo gripped the nation in petroleum paralysis, the economy remains as vulnerable as ever to upheavals in faraway lands. All winter long the turmoil in Iran has brought chilling reminders of that fact, and last week came some of the scariest yet. It was hard to tell which were more frightening: signs that oil prices were about ready to leap again, or Washington's seeming impotence and inaction...
...much for the good news. Even as the supply shortage begins to look somewhat less menacing, the familiar and appalling threat is looming of yet another price rampage by the other members of the 13-nation OPEC cartel. Now as in 1973-74, the danger is that rocketing fuel prices will aggravate inflation, force governments to fight back by clamping down on domestic growth, and for the second time in a decade plunge the world economy into an oil-greased slide...
About the most that consuming governments have so far been able to manage by way of concerted action was a voluntary conservation agreement worked out last week during a two-day conference of the 20-nation International Energy Agency in Paris. The nations agreed to cut overall oil consumption by 5%, but because the U.S. uses so much, it pledged to reduce imports by 11%, or 1 million bbl. a day. The U.S. Department of Energy announced that it would meet that goal by relaxing controls on gasoline so that the retail price, which now averages some 70? for regular...
...statement on the need to conserve oil supplies, while Treasury aides urged that the President say nothing for fear of spooking currency dealers abroad into dumping dollars. Yet it seemed more likely that a determined U.S. policy to conserve would strengthen the dollar by showing the world that the nation was taking steps to correct its trade deficit...