Word: oils
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Dates: during 1970-1979
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...have kept Theodore Sorel from going way out of vocal control in Alonso's "billows" speech. As old Gonzalo (a weak retread of Polonius in Hamlet), Daniel Benzali gets an unintended laugh from today's fuel-conscious audience when he outlines his ideal commonwealth as having "no use of...oil." And it is a nice touch, at the end of the play, for him to bow to Caliban with a kindly smile...
...Governor, he flourished a broom, vowing to sweep the "Old Guard" out of state government. He also spurned campaign contributions from organizations. An early Carter backer, Boren, who is also a born-again Christian, has since become disillusioned with the President's energy policies; the Senator from the oil state would like to deregulate gasoline prices and is strongly opposed to the Administration's windfall profits tax proposal. But the single most important problem that the country faces, cautions Boren, "is overregulation and the fact that the regulators have no accountability to the American public...
Much of the June rise was fueled by the continuing surge in oil prices; this helped push up transportation costs during the month at an annual rate of more than 22%, largely because of the rocketing cost of gasoline, which soared at a rate of 92% a year. By contrast, clothing costs declined slightly, while food, the other big-ticket item in the family budget, rose by only 0.2% for the month. Testifying before Congress's Joint Economic Committee last week, Alfred Kahn, the White House's chief inflation fighter, argued that if it were...
While the companies' earnings are indeed up sharply, they seem especially large because the percentages represent comparisons with the first half of 1978 when profits were soft as a result of a worldwide oil glut. But there is no doubt that the companies have reaped a bonanza from the 60% runup in OPEC prices since January. For example, about 30% of U.S.-produced oil is, in effect, uncontrolled When world oil prices go up, the price of this uncontrolled crude rises right along them. But the companies assert that most of their profits come from operations overseas, where...
...Administration is sure to cite the high earnings in its campaign to get Congress to pass a tax on the "windfall" profits the companies stand to receive under Carter's plan to decontrol the price of domestically produced oil Carter last week urged Americans to "let their voices be heard" against "an oil lobby working quietly" against the tax. While the public fumes at the big profits, most experts have defended the high earnings claiming that they finance further exoration. In any case, the profits boom is temporary: soon demand will come ore into line with supply, prices will...