Word: exportability
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Cook Industries President Edward Cook said he was told at the White House that halting the grain deal was a "political" gesture and "that if we didn't cancel the sale, Congress would impose [mandatory export] controls." The grain sale was held back on the eve of the Administration's economic proposals, and Ford was clearly not eager to have the inflationary specter of a large grain export dangling before the public-and the Democrats. The Republicans and the nation are still smarting from the "great grain robbery" of 1972, when the Soviets secretly bought up some...
...industrial nations it was becoming clearer that they could not afford to continue hemorrhaging vast amounts of their financial resources to the oil exporters unless they were ready to see a shift of the globe's geopolitical balance. The OPEC nations, with great financial clout, would be able to wield decisive influence in the world's political councils and could become arbiters in tune of crisis. The mood of urgency was intensified at midweek, when Kuwait and Venezuela announced further tax increases of 3.5% on the oil that they export...
...probably also incorrect for OPEC to compare ?or link?the price of the oil that they export with the goods they import. Many of the products that OPEC nations buy are either agricultural goods, whose prices are set by a highly volatile market based on supply and demand, or sophisticated manufactured goods, in which the price represents raw material costs, labor, machinery and R. and D.?and then is kept as low as possible by the pressure of international competition. Even when the U.S. attempted, unsuccessfully, to limit its agricultural output, the purpose was to prevent market prices...
...noticed. Few even saw the reports in Iraqi newspapers that representatives from Venezuela, Saudi Arabia, Iran, Kuwait and Iraq had decided "to create an organization for regular consultation and for the coordination of oil policies." Yet from this modest and seemingly innocent beginning, the Organization of Petroleum Exporting Countries has become the toughest and most powerful cartel in history. OPEC has grown to 13 members,* and its ukase sets the export price for oil, thus exercising an unprecedented influence on the economies of almost all countries. Its recent success has inspired the countries that produce copper, tin and other basic...
...overseen booming economic development and the evolution of the Warsaw Pact countries' most politically permissive society. Relying heavily on foreign credits (and risking what he hopes will be temporary trade deficits), Gierek has purchased huge amounts of Western technology and capital equipment in an effort to create viable export industries. Though the country's stan dard of living remains far below that of the West and even below that of neighboring East Germany, Poland has sustained a growth rate of 12% a year under Gierek, while the average national in come has risen a respectable one-third since...