Word: embargoed
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...similar prohibitions on exports to The Netherlands, Portugal, Rhodesia and South Africa. But they left the world waiting to hear just when and for how long they would permit oil to flow to the U.S. again; according to one report, they will decide two months after the embargo's end whether to keep the oil flowing or cut off shipments once more. They were equally silent on how soon they would cancel a 15% production cutback and pump as much oil as they did before the Arab-Israeli war broke out last October-a matter of even more importance...
...producing countries. But they remained shrouded in mystery last week because the Arabs were going through diplomatic contortions to maintain a façade of unity despite deep divisions. For weeks Egypt and Saudi Arabia have been trying to persuade the other Arab nations to lift the oil embargo in recognition of Secretary of State Henry Kissinger's effort to arrange an Arab-Israeli settlement. But they had met strong opposition from Algeria, Syria and especially Libya, whose leader, Colonel Muammar Gaddafi, is the Arab world's most vehement critic of the U.S. Those nations would not even...
...show of unity, Gaddafi permitted the meeting to take place, but he proved a less than gracious host. According to Egyptian newspapers, he showed his displeasure by sending in a huffy note declaring that, "I will not have Libya tarnished by having an announcement on lifting the oil embargo against the U.S. issued in Tripoli." Reportedly, the ministers nevertheless reached a compromise proposed by Algeria: the embargo will be lifted soon, but that decision will be reviewed in two months. If, in the Arab view, the U.S. has not kept up sufficient pressure on Israel to reach a settlement with...
Although the nation's gasoline shortage seems likely to be eased by the lifting of the Arab oil embargo, the Administration is still actively seeking stand-by authority for mandatory nationwide gasoline rationing. Reason: there is still a need to restrain energy consumption until the flow of Arab oil is fully restored-if indeed it is fully restored. Last week President Nixon asked Congress to enact a bill that would revive many provisions of the Emergency Energy Act that he vetoed the week before because it would have forced a rollback of oil prices. In keeping with Nixon...
...Administration and Senate Interior Committee Chairman Henry M. Jackson had worked out a compromise between Nixon's proposals and a revised version of the old Emergency Energy Act, which Jackson will introduce this week. But the legislation still faces an uncertain future. The end of the Arab embargo could persuade many members of Congress that there is no need to hand over such wide-ranging authority to a President whom they deeply mistrust...