Word: petroleum
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Dates: during 1970-1979
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...multinationals, vulnerable to Arab nationalization of their wells, so effectively frustrate the spirit of the boycott-and why would governments go along with a practice that seemingly hurts their own citizens? Actually, they have little choice. Rotterdam is the largest refining center in Northern Europe. Shell, Exxon, Chevron, British Petroleum and Gulf all have huge refineries there that supply neighboring countries as well as the Dutch...
...other organization except for the political arm of the 14 million member AFL-CIO. Precisely how much the milk producers gave to the Nixon re-election cause is unclear, but it is at least $527,500, or more than five times what corporate giants like Gulf Oil and Phillips Petroleum ponied...
...Baltimore, Norfolk, New York and other U.S. ports. In a week or so, they will tie up at their destinations-and the U.S. will enter a sterner, more painful new era of energy shortages. These huge ships were the last to be loaded before the Arab states blocked all petroleum shipments to the U.S. in retaliation for American support of Israel. The Arab move is expected to diminish by a disruptive 18% or more the minimum flow of fuel that the nation needs to run its industries and farms, heat and light its homes, schools and offices, and keep...
...have to crank up a 'crash plan' to develop our own resources to 'cool the swagger of the Arab nations.' Yet it is we who are the swaggerers-and the energy pigs as well. We are consuming nearly one-third of the world's petroleum even though we have only a dwindling 9% of the world's oil reserves. This is the situation that sets the stage for a painful, overdue comeuppance...
...models. Retail food costs-particularly those of bread and milk-continue to climb as increases in farm prices work their way to supermarket shelves. The Arab oil squeeze will further inflate the prices not only of oil and gasoline but also of plastics, cosmetics and countless other petroleum-based products. As a result of these pressures, the Nixon Administration will be forced to keep at least some wage-price controls in place much longer than it would like...