Word: oiled
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Dates: during 1960-1969
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...contraband. Then came the affair that caused the coup against him by the disgruntled armed forces. Belaúnde had rashly promised to expropriate the U.S.-owned International Petroleum Co. "the very day I am inaugurated." He did not, primarily because he did not want to antagonize Standard Oil (New Jersey), of which IPC is a subsidiary, the U.S. Government and potential foreign investors. But finally, this year, hopeful of improving his shaky political position, he did take over IPC's La Brea y Pariñas oilfield. The deal negotiated with the company was hardly the usual sort...
...deal were exposed, all Belaúnde's familiar opponents exploded in an outburst of nationalist indignation. So did the left wing of his own party and the army. The military leaders were furious that their counsel had not been sought in concluding a contract dealing with oil, a resource vital to the country's security. Two weeks ago, Belaúnde responded to the outcry by firing his Cabinet, making it the scapegoat for the affair. But he replaced it with one that the army considered even less competent, and the coup last week was the military...
...REFORM. Nixon pledges to keep the controversial 27½% oil-depletion allowance, which Humphrey says should be reexamined. Humphrey favors closing loopholes in income, estate and gift taxes. He has urged a "minimum income tax" for the wealthy, no matter how many tax shelters they enjoy...
...metropolis as a gaggle of suburbs "in search of a city." They had a point. The core of the city not only failed to share in Southern California's explosive postwar growth but developed ominous symptoms of decay. Though downtown Los Angeles remained a stronghold for banking, finance, oil and insurance, jobs in other fields followed people to the suburbs. Vacancy rates soared in dingy old office buildings. Sleazy stores and bad restaurants proliferated. Forsaken by many retailers, streets that once bustled with affluent shoppers became a depressing arena for bums and beggars, vice and crime...
...subscriptions in the bank's capital stock; big members have sometimes irritated national pride by outvoting the numerical majority. McNamara met this problem by sounding out key directors before meetings, solving the objections that might prevent unanimous agreement. He has uncovered new sources of loan funds in such oil-rich countries as Saudi Arabia and Kuwait. He is already emphasizing the African and Latin American aid referred to in his speech. Last week the bank and its subsidiary, International Development Association, approved loans or credits totaling $25.1 million for roads, forestry projects and livestock programs in Nigeria, Zambia...