Word: oils
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Dates: during 1970-1979
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...most difficult problems the nation faces is the continued high level of costly oil imports. Carter proposed an intricate plan precariously balancing the free market against new government controls to raise prices on gas and oil and encourage increases in domestic production. A major part of his program was defeated in Congress after 18 months of struggle. The failure to lead the crusade he so misguidedly dubbed the "moral equivalent of war" remains both an embarrassment to Carter and a source of potentially severe economic problems...
...they agreed to a "social contract," under which wage demands were held down in exchange for increased government benefits. Over the past three years, their restraint helped reduce inflation from 24.2% to about 8% last year. But, with Britain's economy bubbling from an infusion of North Sea oil, the unions feel it is time to recoup the sacrifices of the past. They regard Callaghan's effort to impose a 5% ceiling on settlements as a challenge. If they accept the policy, their members' pay hikes would fall, once again, behind the rate of inflation...
...with an inevitable shortage of oil and gas which we all recognize, I believe, without dispute, prices have gone up drastically in the last few years; they're going to go up some more. That is inevitable...
Carter seems to have decided the question in the oil companies' favor. His actions with regard to oil prices make a mockery of his anti-infaltion rhetoric, and probably more than counteract any decline in inflation that would be achieved by his budget cuts...
...village's main street, a 10-year-old boy flashed me the thumbs-up sign and groaned, "Ayyyyyyyyy," a perfect imitation of his new hero, "the Fonz." American culture has also intruded its way into the French language, producing French-accented words like week-end, hold-up, stop, gas-oil, and blue-jeans...