Word: crunch
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Experts who warned him through the winter of the fragile condition of energy supplies found the President to be uncomprehending of the forces that could be unleashed by an energy crunch. He insisted in his best Sunday-school manner that U.S. citizens would voluntarily adjust to energy inconvenience. His uneventful weeks as Georgia Governor during the 1973 oil embargo further clouded his view. America could cope without a lot of shouting from above...
...prices are up and supplies are down, but people the world over are confused and skeptical about whether an energy crisis exists. If the crunch is for real, they wonder how bad it is, who caused it, where it is leading, and what should be done to cope with it. For the answers, TIME interviewed at length five leading independent oil experts. They are: Morris Adelman, 62, professor of economics at Massachusetts Institute of Technology; Walter Levy, 68, the dean of petroleum consultants and adviser to governments and oil companies; John Lichtblau, 57, head of the private Petroleum Industry Research...
...casualty of the job crunch and changing student mood is the Afro-American studies department, the creation of which was often one of the chief demands of campus militants. "Curriculum demands now run to courses like How to Operate Businesses in the Black Community," says William Banks, Afro-American studies chairman at Berkeley. At Harvard there are only ten Afro-American studies majors this year. Reports Eugene Matthews, a black in Harvard's class of 1980: "I was told not to take many black studies courses because law schools don't look favorably on them." Black studies programs...
...would be naive to assume that if solar and wind energy systems were installed on the rooftops of the land the energy crunch would magically go away. But assuming that nuclear plants will solve the problem is just as naive, and perhaps disastrously so. If a comprehensive government program to encourage installment of solar heating devices--along the lines of the home insulation tax rebate--were to result in only a 5 per cent decrease in the overall demand for oil it would be well worth the effort since U.S. oil supplies are currently only 2.5 per cent below demand...
Amid all the alarm over multiplying profits and double-digit inflation, the White House is facing what could be a make-or-break challenge to its Stage II efforts to restrain union pay demands. The crunch will come in its attempt to hold the critical Teamsters contract settlement within the Administration's "voluntary" guideline limits of 7% a year in wage and benefit increases. On the 13th floor of a hotel overlooking Arlington National Cemetery, union and management negotiators have been bargaining in earnest for more than a week to shape a new master freight agreement for the Teamsters...