Word: stepping
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Dates: during 1970-1979
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...Libya, which pumps some 2 million bbl. daily and is the cartel's fifth largest producer, were to take such a step, the additional squeeze on world petroleum supplies would be devastating. Even though Gaddafi has made bombastic threats before and never carried them out, the shares of Occidental Petroleum and Marathon Oil, both big users of Libyan crude, came under such intense selling pressure on the New York Stock Exchange that trading had to be briefly halted. Only later was it learned that the irresponsible threat was probably inspired by nothing more than pique. Earlier in June...
Because nearly 40% of all oil used in the nation goes for gasoline, the first and most important step is to brake gasoline demand. Rationing would seem to be the politically expedient method. A New York Times-CBS News poll in early June found that three out of five Americans would prefer rationing to shortages and skyrocketing prices. Yet any form of rationing would tend to be inequitable and a bureaucratic nightmare. Even during World War II, when the U.S. was united as never before or since, gasoline rationing was marked by corruption, favoritism and loopholes. Today, rationing would...
What prompted Baker to move so strongly against the treaty were repeated rebuffs, from both the White House and the Kremlin, to any Senate suggestions for amendments. Early last week in Moscow, Soviet Foreign Minister Andrei Gromyko took the unusual step of calling a press conference and declared that any changes in the treaty would be fatal. Said Gromyko: "It would be the end of negotiations. It would be impossible, whatever amendments might be added." Western diplomats were struck by the toughness of Gromyko's language, which underscored the position taken by Leonid Brezhnev at the Vienna summit...
...determined to prevent the subversion of their anti-Somoza cause by Castro." At week's end, new Ambassador Lawrence Pezzullo flew into Managua to meet with Somoza. Simultaneously, veteran Diplomat William G. Bowdler, who was on the U.S. team that earlier this year tried to persuade Somoza to step down, met with representatives of the rebel government in Costa Rica. The Americans' mission: to seek agreement on a new peace proposal under which Somoza would resign in favor of a new provisional government dominated by moderates but in which both the Sandinistas and pro-Somoza conservatives would...
...long can Somoza hang on? At week's end reports circulated that he would step down, if his armed forces were kept intact and his lapdog National Liberal Party was given the pivotal role in a new regime. Nicaraguan politicians speculated that he would announce his abdication at an emergency session of the National Assembly that he called late last week. But because so many of the 100 legislators failed to attend, Somoza could not put together a quorum, and the session was postponed...