Word: result
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Dates: during 1970-1979
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...hefty new increase when the cartel meets in Caracas on Dec. 17. Notes a top Carter Administration official: "Spot prices are the locomotive now dragging OPEC prices along." Adds Data Resources' Eckstein: "Our present forecast has OPEC prices going to $26 per bbl. during 1980, as a result of the current situation in Iran, and perhaps $29 in 1981. But if Iran's production shuts down completely, the resulting shortfall would mean that we could well be paying between $35 and $40 long before then...
...impact on oil inflation and the world economy would be severe. U.S. consumer prices would continue rising at a dizzying double-digit pace, forcing the Federal Reserve to stick by its anti-inflation policy of sky-high interest rates much longer than expected. The almost inevitable result: a deeper recession than so far forecast. Despite slumping growth, the nation's oil import bill, which is projected to total $61 billion this year, would leap to $96 billion in 1980. That in turn would keep the dollar's value dropping, while provoking yet more demands by oil states...
...miracle was the result of weeks of brinkmanship bargaining. Faced with Carrington's tough demand that they take the plan or leave it, the Patriotic Front came under intense pressure from leaders of the front-line African states to give their assent. Zambian President Kenneth Kaunda, who flew to London last week to confer with the guerrillas and with the Thatcher government, was instrumental in persuading the Front to accept a compromise. Mugabe and Nkomo dropped their original demands for a share of political power and the integration of their military forces with Salisbury's army during...
...fact, that particular coalition is unlikely. Charges of nepotism and influence peddling by his government have tarnished the reputation of the bishop, who is thoroughly detested by the guerrilla leaders. But unless those leaders are willing to join with some moderate blacks in forming a new government, the result could be a mass exodus of panicked whites-or a brutal new civil war among tribal factions...
...from coal, shale and tar sands. In July Carter suggested spending $88 billion over the next decade to build some 40 synthetic fuel plants. But three Senate consultants concluded that such a program would be too much, too fast, and waste billions of dollars. As a result, the Senate this month passed a more modest $20 billion bill that will offer loans and price guarantees over the next five years to private companies to open perhaps a dozen commercial synthetic fuel plants. The House passed a smaller synfuels program in early summer but is expected to accept the Senate...