Word: offsets
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Dates: during 2000-2009
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...defense and security challenges have changed. Sarkozy said terrorism was the biggest threat to French security, and he pledged to create a leaner, more mobile and better-equipped army. He called for a doubling of the intelligence budget for new satellites, drones and other surveillance equipment - but plans to offset that by trimming the army, navy and air force from 271,000 troops to 224,000, with the army alone set for a 24% cut in personnel. Some 50 military bases, garrisons and other defense facilities are to be closed in a move that has already touched off protests...
...modest boost to Taiwan's economy. More cross-strait tourism will boost annual GDP growth by .6% to .8%, according to a report on tourism in Taiwan by Goldman Sachs. "The implementation of these policies would support a recovery in sentiments and domestic demands ... and should help Taiwan offset the negative external shock from slower U.S. demand and higher energy prices," wrote Goldman Sachs analyst Enoch Fung...
...Another reason is the performance of monetary policy. The Federal Reserve and other central banks have learned the lessons of the 1970s. Because monetary policy works with a lag, the short-term inflationary effects of a sharp increase in oil prices can generally not be fully offset. However, since Paul Volcker's time, the Federal Reserve has been firmly committed to maintaining a low and stable rate of inflation over the longer term. And we recognize that keeping longer-term inflation expectations well anchored is essential to achieving the goal of low and stable inflation. Maintaining confidence...
Facing record gas prices, President Bush reluctantly signed a bill to halt the deposit of 70,000 barrels of oil per day into the Strategic Petroleum Reserve, a two-month buffer of crude last tapped to offset disruptions caused by Hurricane Katrina. The amount of extra oil is relatively tiny--the world produces close to 75 million bbl. per day--meaning the move will have little impact on prices. Still, the measure sailed through Congress with overwhelming support...
...target finds it too difficult or costly to reduce its CO2 emissions, it can instead buy "certified emission reductions" from developing countries (which have no such targets). "Certified" means the U.N. has to be satisfied that the reduction would not have occurred anyway and that it has not been offset by increased emissions elsewhere (if, say, it has been achieved by a factory closing down). But the system is impossible to police, and media investigations have revealed that many CDM projects are distinctly dubious...