Word: nationalizes
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Dates: during 1970-1979
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...winter weather usually brings bleak news about the nation's energy supplies, and now it is beginning to seem as if mild temperatures and sunny skies do the same. That, at least, is one way to look at the hooded pumps and OUT OF GAS signs sporadically popping up at service stations around the country...
...grown dramatically, as federal antipollution laws have forced U.S. automakers to shift to production of cars unsuited for leaded fuels. Lead hampers the functioning of so-called catalytic converters, which remove pollutants like nitrous oxide from auto exhausts. Surging demand for unleaded fuel has driven Shell Oil Co., the nation's largest gasoline retailer, and Amoco Oil Co., the leading producer of unleaded gas, to begin limiting deliveries to dealers. Mobil and other companies are also hard pressed to meet demand...
Lead-free gasoline may be good for the atmosphere, but it is not good for much else. About 10% more crude is needed to produce a gallon of unleaded than leaded gas, and that extra margin increases the nation's oil import bill, which once again has begun to grow after showing some brief signs of improving. This year, oil and natural gas imports will swell to $45 billion, up from $42 billion last year. Cornpared with conventional gasoline, unleaded fuel is more expensive to make, costs more at the pump, and gives a lackluster performance under the hood...
Clearly something has to give. It is folly for the U.S. to rely increasingly on an inflation-fueling, energy-wasting gasoline that federal price controls and environmental regulations are discouraging the oil industry from producing. If the nation wants to continue its growing use of unleaded gas, Washington must permit the companies a reasonable profit from making and selling it. Air pollution regulations for industry must also be relaxed enough to allow oil companies to build the additional refineries that are needed to do the job. If Congress and the Administration feel that doing that is asking too much, auto...
Surely other societies cannot-or would not want to-emulate the example of a compact, English-speaking nation of 3 million that has relatively low wages and remains backward in many respects. Still, this Cinderella country can offer the rest of the world some lessons...