Word: pumps
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Dates: during 1960-1969
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...spur action before the expiration of a Canadian deadline to build the pipeline. Corcoran said that Symonds told him to "bluntly" tell the commissioners that Symonds was not "calling wolf, wolf" when he said he would not accept less than a 7% rate of return for the pipeline to pump Canadian gas to the Midwest. FPC examiners had recommended 6¼%. Corcoran said he knew that issuing an "ultimatum" to the commissioners would not have been "the polite way to do it," so he made Symonds' point "in a softer vein." Declared Corcoran: "I was invited...
...majors deny any collusion in setting gasoline prices, insist that prices are uniform only because they all have access to the same sources of crude, pay roughly the same costs to get oil from the well to the pump. But there are few successful challengers to their dominant price-holding role. Independents occasionally force the majors to lower gasoline prices at the pump, as they did recently in West Germany. But they do not have the world wide refining and marketing facilities for a heavy offensive, often cannot offer customers a sustained flow of oil at the same price...
Also arrayed against the consumer - the only one who stands to gain by lower prices - is a whole range of forces with vested interests in keeping up prices. Gasoline at the pump is fair game for a nation seeking revenue; out of the average price of 31? per gal. in the U.S., the consumer pays about 10? in taxes. Independents in the U.S. - which produces the world's most costly oil - pressured the Government to impose import quotas to protect them from cheaper foreign oil. Such regulatory groups as the Texas Railroad Commission make a concerted effort to prevent...
...economy-stunting recessions of 1953-54 and 1957-58 were laid to clumsy Administration handling of defense cuts and refusal to use pump-priming tax reduction. As inflation-wary as the Administration, the Democrats were equally earnest about piling up big federal surpluses earmarked for reduction of the massive federal debt. Rising tax rates in boom time would retire federal debt, leave more funds for private borrowing, they held. Falling tax rates in time of slump would restore private buying power, bolstered by prompt expansion of federal spending on economy-reviving programs...
...years, the Cleveland News (circ. 124,697) tried to prove that Cleveland was a three-paper town. Always sickly, it survived against the other afternoon paper, Scripps-Howard sturdy Press (circ. 304,074), only through the pump priming of its owner since 1932, the Forest City Publishing Co., which also prints Cleveland's morning paper, the healthy Plain Dealer (circ. 305.291). But last week the News was dead: tired of pouring Plain Dealer profits into the News, Forest City's President Sterling E. Graham had announced the sale of the News to Scripps-Howard's Press...