Word: offsets
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...OPEC scheduled an early April meeting to discuss raising the price of oil, which has remained frozen for months. Reason: to offset the decline in value of the dollars in which OPEC's 13 members are paid for their petroleum. Saudi Arabia, OPEC's linchpin, is still opposed to a price boost, but whether it can prevail is becoming less certain. Iraq and Kuwait are among the leading OPEC members who demand a rise in prices and perhaps even an end to the dollar's role as the sole currency in which world oil prices are quoted...
...past, the Kennedy School and the institute often selected well-known conservatives as visiting lecturers and fellows, presumably to offset the University's "liberal" reputation. But speculation continues over why Graham T. Allison '62, dean of the Kennedy School, selected Connally, rather than a more academically-oriented member of the right, such as Arthur Burns or Milton Friedman...
...will probably enact no more than half the reforms asked for by the Administration. One reason: some congressional leaders do not believe the time is right for revenue-raising tax reforms. They are worried that net tax cuts of only the size that Carter proposes would be more than offset by scheduled increases in Social Security levies, plus the so-called inflation tax (inflation automatically worsens the tax bite by pushing people into higher brackets as their incomes rise). House Speaker Thomas P. O'Neill, among others, fears that the economy could begin turning down just before next fall...
...rate on most corporate profits from the present 48% to 45% late this year, 44% in 1980. Another $2 billion would be provided by repeal of the federal tax on telephone calls and a cut in unemployment-insurance taxes levied on companies. The overall aim: to offset the bite of higher Social Security and energy taxes, which the President conceded would otherwise drag the economy down by the end of 1978, and give businessmen more cash to invest. If Congress agrees, the cuts will take effect...
Foreign buyers of U.S. aircraft exercise a stabilizing influence, even though U.S. planemakers do not necessarily like the way they do it. Increasingly, overseas purchasers are demanding "offset" arrangements-the right to assemble parts of planes they buy in their own factories...