Word: petroleum
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Dates: during 1970-1979
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...these actions reflected an expectation that renewed Arab exports would increase U.S. petroleum supplies by as much as 1.6 million bbl. per day by May, enough to close most of the current energy gap. Yet deep uncertainties remain about the course of Arab oil production and world crude prices. The Arabs lifted the embargo in recognition of U.S. efforts to arrange a Middle East settlement. But there remains a threat that the Arabs could close the spigot again in June if they judged that the U.S. had not pushed hard enough to secure, among other things, an Israeli pullback...
...attitude; without such a string attached, it is unlikely that the divided Arab* could ever have agreed on a plan for resuming exports to the U.S. As it was, Syria and Libya refused to join in the decision, taken in Vienna at a meeting of the Organization of Arab Petroleum Exporting Countries...
Minister Ahmed Zaki Yamani declared that his country would supply the U.S. with 1 million bbl. a day, implying a production boost all the way back to September levels. That move alone would cut the projected U.S. petroleum shortfall about in half. But Yamani's Arab brethren declined to disclose how fast they intended to pump and ship...
...Golan Heights, the embargo could be resumed. Still, in view of Gaddafi's position, the ministers thought it the better part of valor not to announce that decision or indeed anything at all except their plan to reconvene in Vienna at a meeting of the Organization of Petroleum Exporting Countries...
...administrative agencies. He now spends less time at his private law practice than as head of the Consumer Federation of America's "energy-policy task force," representing the interests of 22 consumer-oriented groups. His total budget may reach $85,000 a year-a pittance beside the American Petroleum Institute's $16.7 million for 1974. "If it's a David v. Goliath situation," he says, "spell David with a small...