Word: nationalizes
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Dates: during 1970-1979
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...Federal investigators scoff at the report that Godfather Carmine Galante, 67, the nation's most powerful Mafia leader, has ordered mobsters into the hunt. He has other worries. He was on crutches last week because rival gangsters assaulted him in Brooklyn as a warning to keep his fingers put of the gambling casinos soon to open in Atlantic City. Then FBI agents served him with a subpoena that requires he appear this week before a Miami federal grand jury probing mob infiltration of businesses there...
Though the dry spell has made two out of every three Western communities eligible for federal emergency drought funds, it has barely hurt California agriculture (except for wheat and cattle farms), which uses up to 85% of the water in the nation's leading agricultural state. This year's farm output is expected to be normal-around $8.9 billion-despite a second straight year of drought...
...necessity for importing North American uranium. Scientists are sharply divided over the dangers that may be inherent in the breeder reactors, and President Carter has halted the U.S. breeder program as risky. The French are nonetheless pressing ahead with their breeder plan, the most ambitious undertaken by any nation, and France's nuclear network is expected to free the country from 75% of its imported-energy requirements...
...required that 25% to 30% of all imported oil be carried by U.S. ships, reached the President's desk. Treasury Secretary Michael Blumenthal reviewed the pros and cons: the bill, he said, would create as many as 18,000 jobs at sea and in shipyards and reduce the nation's trade deficit, but in the long run, by raising costs, would reduce both total employment and national production. Domestic Affairs Adviser Stuart Eizenstat noted that not only Blumenthal but CEA Chairman Charles Schultze and Under Secretary of State Richard Cooper "feel that no version of cargo preference...
Bosworth comes to his job as the nation's top inflation fighter at a jittery time. Despite falling food prices, the Consumer Price Index has been racing upward at an annual rate of 8.1 % over the past three months, well ahead of the Administration target of 6.5% for this year. The most faithful White House aides are now skeptical that the President will achieve his goal of reducing inflation to 4% by 1979. One reason: many economists fear that the combination of taxes and price boosts in Carter's energy program will only add to living costs...