Word: upping
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Dates: during 1970-1979
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With the two bills now virtually wrapped up, the Senate also began debate last week on the toughest Carter proposal: a new tax on extra profits that U.S oil companies could make from OPEC price increases. Because the price of American petroleum has been controlled by Washington since 1973, most...
The Iranian oil cutoff and ever higher OPEC prices have raised the possibility of still further energy action. "It is clear that we must embark on new initiatives in all sectors and rethink what is possible," says Deputy Energy Secretary John Sawhill. He adds that the Administration is considering ways...
Shouting against the windfall profits tax, oilmen tirelessly contend that higher earnings will motivate them to search harder for oil and gas. Sure enough, as oil profits have marched up this year, so has domestic exploration. Steel drilling rigs, eight and ten stories high, are rising at muddy, cluttered sites...
Another spur is that profits of ten of the largest oil companies increased an average of 94% in this year's third quarter, and managers have attempted to divert public criticism by pumping up exploration budgets. A number of independents are still holding back until the windfall profits tax...
Meanwhile, Chrysler's rescue plans move sluggishly. Under the Government's $1.5 billion loan guarantee plan, the company must come up with an equal amount of outside help. But banks are showing reluctance to sink more money into the troubled company. Chrysler thus last week was asked by...