Word: moves
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Dates: during 1970-1979
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...downfall took place over a classic bread-and-butter issue: the budget. At stake was an austerity program that had been outlined two days before by Finance Minister John Crosbie. The program's goal was to raise an extra $3.5 billion in Canadian tax revenue in order to move toward full energy independence for Canada by 1990. Unfortunately, it was not as simple as it seemed. Crosbie's budget called for whopping tax increases on gasoline, heating oil and alcohol, and a 5% surcharge on corporate taxes. The gasoline tax alone would be increased from...
...long term, it is vital to move forward rapidly to develop every alternative energy source, from coal and shale to wind, waves and the sun. Meanwhile, conservation of existing supplies is indispensable, and politicians would do well to face the issue. Concludes Milton Lipton, president of the leading petroleum advisory firm of Walter J. Levy Consultants: "Despite the inevitable inequities of either steep taxes or rationing, there comes a time when you have to say, 'Damn the torpedoes and full speed ahead.' I cannot think of a better time to ask the American people to accept either...
...than $90 billion in U.S. dollars and other U.S. financial assets that will continue to slip in value as the cartel's prices climb. These surplus states probably will not go along with any effort to dump the dollar as the currency of the world oil trade, a move that would undermine the value of the greenbacks they already hold. But Iran and Libya are urging OPEC to switch from dollars to a so-called basket of currencies, which presumably would include German marks, Swiss francs and other Western money, and a fight at next week's meeting...
...also became known that the assets seizures began earlier than many had supposed. Several weeks ago, a French court had quietly frozen Iran's $1 billion stake in Eurodif, the large multinational uranium enrichment project in Western Europe, after Iranian leaders failed to meet routine payments. The move served notice on Iran's new leaders that no foreign investments were safe from seizure...
With their appetite for visual excitement, newscasts often open with the latest rant from the cross-legged Ayatullah, then move to shots of Death-to-the-Shah street crowds, who by now economically wave their fists most fervently when they see the camera's red light upon them. Next the "students" appear, enjoying the dream of every terrorist and airplane hijacker: to have television cameramen vying to record their loudest threats and wildest allegations. This has usually been balanced, if at all, by a brief low-key response from the State Department spokesman, and by the infrequent appearance...