Word: oils
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Dates: during 1970-1979
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...rivalry between Jimmy Carter and Edward Kennedy broke out again last week in a flurry of sharp words over the President's decontrol of oil prices and his proposed windfall profits tax. The Massachusetts Senator opposed the first decision and ridiculed the second. Carter struck back by calling Kennedy's charges "just a lot of baloney. " TIME Washington Bureau Chief Robert Ajemian, who has closely followed the touchy relationship between the country's top two Democrats, reports on the combat...
...Jimmy Carter listened intently as Jody Powell confirmed the taunting charges Ted Kennedy had made only a few hours earlier in New York City. Powell had just called Kennedy's office himself to check the exact words. Yes, the press secretary told the President, Kennedy had said the oil lobby intimidated Carter into "throwing in the towel" on decontrol without even "entering the ring." Yes, Kennedy had accused Carter of submitting a token windfall profits tax that was no more than a "transparent fig leaf over vast new corporate profits...
Nowhere in the Western world is the tension between decentralized economic pursuits and the advantages of a strong federal government as evident as in Canada. Oil-rich Alberta, led by Conservative premier Peter Lougheed, is in the midst of a boom. The other Western provinces feel alienated by the distant Ottawa government. The Maritime provinces are locked into a vicious economic cycle, with unemployment as high as 20 per cent in some areas, and despite federal investment incentives, practically separatist government clamors for "sovereignty association," a euphemism for secession. If Quebec were to secede, the Maritimes would...
...heavily to expand after the FCC loosened regulations but got squeezed by high interest rates. Now the industry is bringing in $1.4 billion in revenue a year and posting profits high enough to catch the eye of multinational giants. General Electric has bought into a cable operator and Getty Oil into a programming company. RCA plans this December to send up another Satcom satellite that will carry more cable programs, even though some of the cable operators might take viewers away from the NBC network, which RCA owns...
...British can brace themselves for the possibility of bitterness and conflict on a scale hitherto unknown if the Tories carry through on their campaign rhetoric. The United Kingdom's energy self-sufficiency--thanks to North Sea oil--and the Labour government's achievement in paying off Britain's international debts will provide a base for the much-vaunted cuts in income taxes. Many argue that such revenues should be used directly to improve the quality of social services for ordinary people and to finance the modernization of British industry that is so desperately needed...