Word: oiling
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Dates: during 1960-1969
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...Manhattan's towers, Newark is a grimy, sprawling industrial ghetto, heir in full measure to nearly every urban malady of modern America. Its rich are few, its poor numerous, its population of 405,000 nearly equally and often acrimoniously divided between black and white. The miasma of the oil refineries in the nearby Jersey meadows hangs over the city, and so, too, does the pervasive smog of crime and corruption...
...permit less highly trained "paramedical" workers to perform simple functions like applying bandages and giving injections. Federal purchases could be more adroitly timed to take advantage of favorable prices. Government regulatory agencies might abolish minimum rates for freight shipments and other transportation, and permit competition to take over again. Oil-import quotas, which cost gasoline consumers at least $4 billion a year, could be revised or scrapped. Fair-trade laws, which place floors under the prices of some goods, might also be repealed. These are the sort of moves that economists as far apart as Walter Heller and Milton Friedman...
Diminished Symbol. The Senate did make a modest start on tax reform, and further amendments were held over for voting this week. The 27½% oil depletion allowance, which has stood as a symbol of tax privilege since the Administration of Calvin Coolidge, was reduced to 23% in the Senate, a kinder cut than the House version, which put the allowance at 20%. The difference -which amounts to about $100 million in tax revenues for each percentage point-will be resolved in conference. But neither the House nor the Senate ventured to restrict the oilmen's privilege to deduct...
...LITTLE DRAGON, by Roger Price, illustrated by Mamoru Funai (Harper & Row; $3.50). A modern Just So Story about a little dragon with "a long spiked tail and 212 teeth" who, alas, couldn't breathe fire so the old sea turtle fixed that with some hot peppers, coal and oil, but then Algon burnt up everything around the house, so once again the old sea turtle, etc., etc., and that, oh best beloved, is how the first alligator was born...
MONDAY was the first day of December and the first real snowfall. It was cold and quiet and flavored with post-vacation inertia. Monday night the U.S. government, as if waiting for a tranquil moment, pulled oil the piece de resistance of all its absurdities...