Word: oiling
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Dates: during 1970-1979
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Though the immediate crisis facing the world is the direct responsibility of the Ayatullah Khomeini and his pseudo-government in Iran, the danger would not be nearly so grave if the U.S. had not allowed itself to become so dependent on foreign oil. Under the circumstances, there is no guarantee that economic disruption can be avoided no matter what steps the nation takes. But the best hope for avoiding real trauma is to cut consumption, conserve supplies and, at the very least, make do with 700,000 bbl. less of crude per day. Such an effort would put some slack...
...business terms, both sides have fired their big guns: oil cutoff, attempted bank withdrawal, asset freeze. What further economic weapons can the U.S. use against Iran-and vice versa...
...crude!" are starting to be heard. The White House, however, has no present intention of halting food supplies. If the U.S. later plugs up this cornucopia, Iran will be less vulnerable than it once was. As a Persian grain trader says, "We are earning $24 billion a year from oil. We can buy food any place we want...
...Iranian bottlers, and Continental Telephone is proceeding with building a phone cable network for Tehran. One of the largest projects had been the joint venture between California's Fluor Corp. and West Germany's Thyssen to build a $750 million, 200,000 bbl.-a-day oil refinery at Isfahan for the National Iranian Oil Co. The refinery has been a high-priority item for the Iranian government, which fears shortages of kerosene and diesel fuel during the winter. Last week, when the refinery was a month away from partial operation, Fluor called home its 52 remaining American employees...
...overspent, overestimated and overregulated." He lamented the fact that "the great productivity of our industry is now surpassed by virtually all the major nations that compete with us for world markets." He complained that "our defense strength has deteriorated." He blasted U.S. failure to reduce its dependence on foreign oil...