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...losing $100,000 each day that the pipeline remains closed. Now tankers must carry the bulk of oil produced in the Arabian Gulf around the Cape of Good Hope to Europe. The consequent shortage of ships has caused a tripling of charter rates, making it much more expensive to transport heating oil to the U.S. In parts of Europe, fuel-oil prices have more than doubled in the past year...

Author: /time Magazine | Title: Business: The Political Power of Mideast Oil | 10/19/1970 | See Source »

...fifties, when nothing happened and everyone fell asleep. The setting is Indianapolis (of all places), and the historical-social landmarks of the narrative include Eisenhower, Brando, Joe McCarthy and the Red Menace, Dave Brubeck, Time, Moral Re-Armament, the Saturday Evening Post, Chet Baker, frats, the first jet transport, Roger Bannister and the four-minute mile, the "new mature Sinatra," and drive...

Author: By Frank Rich, | Title: The Apocalypse Waiting for That Car Crash In the Sky | 10/8/1970 | See Source »

Meanwhile, Kissinger and company decided to move another aircraft carrier, Saratoga, into the eastern Mediterranean to join Independence, which had sailed eastward after the hijackings occurred. A group of C-130 transport planes was flown from Europe into Turkey. An airborne brigade had already been placed on semi-alert in Germany. At a later meeting, the group proposed moving a third carrier, John F. Kennedy, into the Med, and ordering the helicopter carrier Guam and its Marine landing team to leave North Carolina for scheduled NATO maneuvers in the Mediterranean a day early. Each move, as the Administration anticipated...

Author: /time Magazine | Title: Nation: The Mid East: Search for Stability | 10/5/1970 | See Source »

Many of the unemployed specialists are eager to use their skills to help solve some of the nation's housing, pollution or transport problems. But the Government has yet to supply much money to help defense companies convert for peacetime battles, or to assist laid-off specialists in transferring their skills to other areas. Washington could indeed do more by awarding to defense firms some major research contracts in urgent civilian areas or by sponsoring retraining and relocation programs for the overskilled jobless; present training programs are directed almost entirely at the hard-core unemployed. Educated manpower...

Author: /time Magazine | Title: Business: The Agony of the Overskilled Man | 10/5/1970 | See Source »

Actually, it is just as well that the Zhiguli is not coming off the line in greater numbers, for Russia is still woefully unprepared for the impact of the auto. Soviet authorities frankly express their apprehensions. "By 1980, we will be struck by transport paralysis," says A. Zhukovsky, the chief of the Leningrad Transport Department. "Leningrad will have over a half million cars, while road construction is already twelve years behind present needs." Yevgeny Trubitsyn, Minister for Highway Construction of the Russian Republic, summed up: "We are just plain short of roads...

Author: /time Magazine | Title: Soviet Union: Into the Auto Age-At Last | 9/21/1970 | See Source »

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