Word: steels
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Dates: during 1970-1979
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...pipeline. Last March the Soviets built a new blast furnace at Isfahan; new smelting and rolling mills will follow soon. All told, these projects are claimed to account for the production of 90% of all coal in Iran, almost 90% of the iron ore and 70% of the steel...
Pakistan is doing a little bridge building of its own with the Russians, despite its traditionally close ties with China. Earlier this year Zia dispatched a high-level delegation to Moscow. The ostensible purpose was to secure an additional $250 million in credits to finish a steel mill in Karachi that the Pakistanis are building with Soviet help. But in an interview with TIME, Zia made clear that another purpose of the mission was to warn the U.S. that "I must have my own opening?I must have our options open...
That same afternoon, Carter called a conclave of 125 business leaders from around the nation, gave them a similar warning, and asked them to lobby Congress. The businessmen generally supported him but without glowing enthusiasm. Said R.P. Simmons of Allegheny Ludlum Steel: "The bill may be an abomination, but it's the only abomination in town...
...early this year closed its biggest refinery, in Rotterdam, for two months because of poor sales. On the other hand, it has done the best job of any Sister in exploiting new oil finds and cutting itself loose from OPEC. As late as 1970, according to Chairman Sir David Steel, BP got 85% of its crude from OPEC countries; by 1985 the proportion will be down...
...will see a major expansion in spending for energy conservation and development. For nuclear, solar, shale, sands-all of them. We will get an extraordinary amount of basic research. There will be an awful lot of replacement and modernization across the board-in steel, paper, textiles, chemicals, aluminum. I don't know of a single industry that will not draw enhanced investment...