Word: oils
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Dates: during 1970-1979
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...mineral wealth. "We have a saying here," beams one local leader, the portly Khan of Kalat, "that a Baluch child may be born without socks on his feet, but when he grows every step he takes is on gold." The fact is that Baluchistan has a bit of oil, coal and natural gas, but not much else...
Meanwhile, the Carter Administration was making extensive plans to entertain Teng when he makes his state visit to the U.S. later this month. The proposed program includes a trip to Texas, where Teng can discuss buying oil equipment, a journey to a big Midwestern farm and an extravaganza at Washington's Kennedy Center...
Others look to enrollment of foreign students, especially oil-rich Middle Easterners, to supplement their student body. Fully 17% of the students at predominantly black Huston-Tillotson in Austin, Texas, are Iranian. The late arrival and slow tuition payment of an expected 150 new foreigners triggered the bankruptcy last month at Vermont's Windham...
Production workers, in particular, are expected to continue laying down their wrenches and torches as soon as they can, for an understandable reason: the labor is physically wearing. The Oil, Chemical and Atomic Workers union has fought hard to negotiate pension plans specifying a "normal" retirement age of 60, and that is the actual average age of its members who retire...
While the U.S. is tamping down its economy to fight inflation and strengthen the dollar, Western Europe is beginning to emerge from the stagnation that began when oil prices were quintupled in 1973-74. The result will be "a scissors movement"-Europe's economies will move up, while U.S. growth declines in 1979. This metaphorical prediction, from the 24-nation Organization for Economic Cooperation and Development, is one of the most optimistic forecasts that the Old World has seen in years...