Word: shorted
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Dates: during 1970-1979
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While important decisions were being made abroad at the oil summits, TIME correspondents in the U.S. were sounding out federal policymakers, oil executives, striking independent truckers and hard-pressed motorists. Boston's Jeff Melvoin got the closest view of long lines and short tempers by spending a day at Jim Harrington's Exxon station in nearby Burlington, Mass...
...already at double-digit levels in the U.S. and climbing rapidly in many other industrial nations, will go still higher. Economic growth will slow to at best a crawl, and unemployment will grow, in the U.S. by perhaps as much as 1.4 million in the next twelve months. In short, for the second time in a decade, the threat of an OPEC-induced global slump is imminent...
Though the truckers vowed to starve the country into submission to achieve their demands, they so far have fallen considerably short of that goal. By and large, food has continued to roll across the nation's highways, but there have been widespread losses and threats of shortages. In California, thousands of acres of ripe lettuce and potatoes were plowed under for lack of trucks to ship them east, a loss that is calculated at $15 million to $25 million. In Florida some farmers face ruin unless 2,000 truckers can be found to ship $50 million in produce...
...that he was trying to allow for the possibility of having to reverse field on the treaty. He criticized, for instance, the fact that the Soviet Backfire bomber was left out of the treaty. At the same time, he seemed to suggest that he might settle for some measure short of counting Backfire under SALT, such as a Senate resolution calling on the U.S. to develop an equivalent bomber, which would be permitted under the treaty. On balance, however, Baker was so adamant about opposing the agreement that he probably would lose considerable face by changing his mind about...
...make up for an expectedly poor crop this year. That could cause worldwide demand to outstrip production and lead to shortages. Such speculation has driven up prices for corn, wheat and other grains by prompting buyers-domestic and foreign-to increase their orders as a hedge against being caught short...