Word: pasts
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Dates: during 1970-1979
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...have been set at no more than a small fraction of the base price, are supposed to be applied solely to specially attractive crudes, such as Nigeria's and Libya's low-sulfur oil, which is now much in demand for refining into gasoline. Veteran observers of past OPEC behavior expect the differentials soon to be turning up as part of the price for almost any grade of cartel crude. As a portent of things to come, the Algerians announced that they would immediately start charging the top dollar possible...
Last week's events should have made even clearer that the world's petro-woes are caused not by the oil companies, not even by the bureaucrats, but by the cartel. Whatever their past excesses, it is not the companies but OPEC's members that have banded together to exploit the world shortage of oil and to make that shortage more acute by holding back production. The response of the industrial nations, a forced limit on petroleum imports, will, their leaders agree, bring about a lowering of living standards. In the immediate future, the U.S. most likely...
...anything be done to break the tyranny of the toughest cartel in history, to prevent oil shortages and price gouging? The answer is yes-if. If the U.S. is ready. At last, the jarring events of the past few weeks have probably persuaded Americans that the crisis is real, and that the nation can meet it by making some sacrifices and changes in its lifestyle, by taking some chances and paying some costs. What is needed, of course, is to lessen immediately the country's umbilical dependence on crude oil from the cartel. Slackened demand could loosen the market...
...aroused ministers quickly discovered that the politics of abortion is a bruising business. Last week a more stringent version of the Hyde amendment easily passed the House. It would ban federal funds for all abortions except cases in which a woman's life is in danger. As in past years, the Senate is expected to add exceptions for cases of rape, incest or potentially severe damage to the mother's physical health and then pass the legislation handily...
Their destination was simply the open sea. As part of its get-tough policy toward the Vietnamese boat people, who have been arriving on its shores in ever growing numbers, Malaysia in the past two weeks has sent nearly 15,000 Vietnamese refugees back to sea. Malaysia has disposed of 55,000 unwelcome guests in that brutal fashion since Jan. 1, but there are still 76,000 Vietnamese exiles in the country's refugee camps...