Word: turning
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Dates: during 1970-1979
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...companies would no longer be permitted even to buy Iranian crude, let alone deliver it to the U.S. The petroleum will be sold instead to any non-U.S. oil companies that want it, leaving the U.S. firms to scrounge on world markets for whatever available non-Iranian cargoes turn...
...policy of sky-high interest rates much longer than expected. The almost inevitable result: a deeper recession than so far forecast. Despite slumping growth, the nation's oil import bill, which is projected to total $61 billion this year, would leap to $96 billion in 1980. That in turn would keep the dollar's value dropping, while provoking yet more demands by oil states for compensating price increases. The vicious cycle would continue to drag the economies of the U.S. and the world down and down...
...Iran's funds as proof of the riskiness of putting assets in any money, in any bank. That would add yet more weight to the growing OPEC feeling that it is smarter to cut production and leave the oil in the ground where it is safe than to turn it into dollars or other paper assets that can be seized. Confidence in the international monetary system was shaky enough before last week's action. Since 1973, the nearly tenfold increase in oil prices has sent an estimated $150 billion cascading into OPEC's coffers. The resulting deficits...
Everywhere Reagan went last week, the question of his age popped up. If elected, he would turn 70 a month after his inauguration-making him the oldest of all U.S. Presidents to assume the office. His opponents figure that he is most vulnerable on this issue. Nonetheless, except for a slight thickening around his middle since 1976, he looks as fit as ever. His aides released a report of his last physical examination, in April, which showed no signs of coronary disease and a blood pressure of 120/80-a rate physicians consider excellent. He has a touch of arthritis...
This push marks still another turn in Indian militancy. The celebrated cases in which Indian tribes claimed ownership of huge tracts of land now seem headed for compromises. In Maine the Penobscots and Passamaquoddies, who once demanded 12 million acres, or two-thirds of the state, have come down to 300,000 acres, and may well settle for less. Meanwhile, cases arising out of how land and resources are used have multiplied startlingly; there now are an estimated 7,000 claims in 30 states...