Word: embargoed
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...Paris last week, for the first time since the Arab oil embargo, representatives of the countries that have quintupled petroleum prices faced delegates of the consuming nations that are paying those prices. Across the conference table it became immediately apparent that the oil producers have the upper hand diplomatically. The 18-nation meeting, called at the invitation of French President Valery Giscard d'Estaing, showed the depths of the differences rather than any path to resolving them. At week's end delegates could not even agree on an agenda for a larger conference this summer. The oil producers...
...Arab oil embargo awakened the U.S. to what energy experts had been saying for years: sooner or later the U.S. will run out of oil and need other forms of energy to heat homes, make electricity and run cars. Now, as a result of crisis and quintupled oil prices, federal funding for energy research and development is surging. The money is going toward getting energy from the sun, from hot rocks and steam reservoirs deep beneath the earth's surface, from the wind, from coal, even from the millions of tons of garbage discarded daily...
This fiscal year the Government is spending $1.4 billion on energy R. and D., nearly three times the amount authorized in fiscal '72 before the Arab embargo. Another $1.5 billion is proposed for fiscal '76, which begins in July. The nucleus of the effort is the Energy Research and Development Administration, a gangling bureaucracy set up only in January to pull together federal energy R. and D. programs...
Ford asked Congress to life its ban of arms shipments to Turkey, calling the embargo "an unprecedented act against a friend...
Ford defended the Central Intelligence Agency and asked Congress to lift the arms embargo against Turkey and the trade restrictions from the Soviet Union...