Word: oiled
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Dates: during 1960-1969
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During the two months that he has been President, nearly 2,400 Americans have been killed in Viet Nam and countless others maimed for life. Nearly 10,000 have been killed since peace talks began. Yet more concern is voiced over the oil company in Peru and the fishing boats off the coast. Our nation should decide which is more important-things or lives...
...each time by their mechanic). Blaming them for the water that pours in each time it rains. (After the mechanic "fixed" the leak with at least a gallon of tar.) Even blaming them for the backfiring, running hot, the gear lever falling off, emergency brake handle working improperly, leaking oil, and I could go on and on. When all the time it was our own fault for "insisting on speed and styling at the lowest possible price." We did have one laugh; after the accelerator was finally fixed, we received a letter telling us to take our auto...
...conflict between Peru and the U.S. revolves around a Standard Oil of New Jersey subsidiary, the International Petroleum Co., which has been pumping oil out of Peruvian soil since 1924. Last October, only six days after they had overthrown President Fernando Belaúnde, Peru's new military masters seized IPC's property. Under the 1962 Hickenlooper Amendment, the U.S. is obliged to halt foreign aid and preferential-trade deals with any country that expropriates American property without making adequate compensation. Under Hickenlooper, the cutoff must take place six months after the seizure unless "meaningful" negotiations...
...part, General Juan Velasco Alvarado, the leader of the Peruvian junta, professes that he cannot comprehend why the U.S. is so upset. The seizure was legal under Peruvian law, he explains. Furthermore, according to the junta's charge, IPC still owes some $690 million for oil it "illegally" extracted. To the junta's way of thinking, it is Peru that should be angry. The U.S., says General Velasco, "is a just country. I cannot believe that the amendment will be applied...
Taxpayer B used the oil-and-gas depletion allowance to avoid taxes almost entirely on an income before special deductions of $1,110,190. First, he deducted $41,141 for contributions, local taxes and medical expenses. Then he took off $185,468 for the direct costs of his exploration and drilling. Along with other minor deductions, that left him with a taxable income of $866,022, all but $3,980 of which escaped tax liability because of his 271% oil-and-gas depletion allowance of $862,042. He paid the Government $397-as much as the bill for an unmarried...