Word: oils
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Dates: during 1970-1979
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...fuel, the sectors pushing up costs and creating permanent inflationary pressure. These commodities are in short supply, and a growing, developing world will demand more and more of them. Unless the price rises high enough to summon forth significant new sources of supply--which in the case of oil seems to be happening--or to decrease consumption--which, in the case of oil, is not--the price will not stabilize. Considering that motive power and petroleum itself are essential to the production of most goods, it is doubtful any single government outside the Persian Gulf has the capability to reverse...
...evidence proving the "crowding out" theory of Milton Friedman. In fact, the historical experience of pre-war Japan, where rapid growth was accompanied by far greater deficits for defense purposes, shows that sufficient capital, foreign or domestic, will be available where the opportunity is great. There are billions of oil dollars in European banks eagerly seeking investment opportunity, and with the declining value of the dollar, they can be invested nowhere more profitably than in the United States. As any real estate broker could tell you, to some extent they are. Nevertheless, the second greatest contributor to our balance...
Despite a two-day-old nationwide Teamsters Union strike that has interrupted trucking across the nation, Harvard's food and heating oil deliveries are likely to continue as usual, University officials said yesterday...
Metropolitan Petroleum and White Fuel, the two major suppliers of heating oil to the University, also reported yesterday no interruptions of deliveries...
...fuel more attractive. In the long term, nothing is more important than enacting legislation to curb the regulatory rampages of the EPA, which in most cases is answerable to nobody. Right now, the most effective step the President can take is to free the price of domestic crude oil. As it floats up to world levels, bargain-basement coal will look more and more like the attractive alternative the White House keeps insisting...