Word: shutoff
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Dates: during 1970-1979
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...miles by tanker around Africa before it reaches Europe. Fuel from the North Sea promises to supply 10% to 15% of Europe's energy needs by 1980-not enough to materially reduce dependence on the Mideast, but perhaps sufficient to enable the Continent to survive a brief shutoff of Mideast...
...this either by liberalizing quotas or replacing them with a less restrictive tariff system, as a Nixon-appointed task force recommended-to no avail-a year ago. Such a move would have to be coupled with the building of a domestic reserve supply to guard against a Mideast shutoff. To do that, the import task force suggested storing domestically produced oil in salt domes or steel tanks. Another alternative would be to develop fields in areas where production costs are high. The wells would be capped and kept in reserve, but reopened in event of a possible interruption of foreign...