Word: tightness
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Dates: during 1970-1979
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Profits are shooting up because tight supplies worldwide have allowed oil companies to raise their prices just as the 13-nation Organization of Petroleum Exporting Countries has raised its own. Companies with big business overseas had certain advantages. Earnings in markets like West Germany, which has no price controls on petroleum products, climbed especially sharply. Also, the recent strengthening dollar against foreign currencies improved the overseas balance sheets of the companies...
Coming on top of OPEC's cutbacks, the cartel's price increases have a snowball effect. With supplies tight, retail prices in the U.S. begin edging up to the maximum. Then, when OPEC raises its crude oil charges, the U.S. Government allows the price controlled ceiling itself to creep higher. As the demand for gasoline mounts, the retail price
...patsy for petroleum interests. The impression is strengthened by Congress's own inaction on energy policy. Sometimes, however, the foot dragging is actually helpful. Last week, for instance, a House committee sensibly refused to give Carter stand-by authority to order gas-station closings if supplies get too tight. The closings might well provoke motorists to start topping off their tanks, resulting in long lines at the pump just as during the Arab embargo...
Yale went on to lose the tournament finale to the University of Massachusetts, in a tight 6-5 game...
...Jeffrey and Mark Schneider, a duo they had allowed but one game in a dual meet almost two weeks ago. Walker fell to Brown's Steve Piscuskas in the singles, a player the Crimson's Bob Horne had vanquished in straight sets earlier in the year. Chaikovsky dropped a tight three-set match against Williams' Martin Goldberg in the quarterfinals of the "A" singles...