Word: normalizes
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Dates: during 1980-1980
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...shortfall caused by the Iranian revolution and by the destruction resulting from the Persian Gulf war. This has permitted oil companies and major petroleum-importing countries to maintain large reserves as a cushion against future price increases or production shortfalls. World reserves are about 300 million bbl. above normal for this period, and both the U.S. and Japan have decided to increase their stockpiles. Without that small world glut, OPEC would probably be pushing up prices even faster. Libyan Oil Minister Abdul Salam Zagaar, who is normally one of the OPEC hawks, said after the Bali meeting...
...were similarly embraced. So was Rhodesia's Ian Smith, who was known as "Good Old Smitty" to his white supporters, if not to blacks or to Mrs. Smith. Thailand's former Prime Minister Kriangsak Chamanan was called "Sweet Eyes." Such definite nicknames are useful not only to normal citizens but to journalists as well. In the matter of Mr. Reagan it will be considerably easier for, say, a pleased New York Post to write its 3-in. headlines: BONNIE RONNIE, or DUTCH TREAT, rather than resorting to a characteristic, though imprecise, YAY. There is, of course, a kind...
Almost every normal transition has provided a preview of the tone and method of the new Administration. Kennedy formed his Government in the sagging elegance of his Georgetown home and made casual announcements about his appointees from the frigid front stoop. Nixon installed himself on the 39th floor of New York City's majestic Hotel Pierre, and, as he chose the members of his Administration, the world waited far below...
...total OPEC production by about 3.5 million bbl. per day, has created pressure for higher prices. Repeated bombings and shellings have reduced to rubble the refineries and export facilities in the two countries, and experts believe that it would take up to a year after hostilities ended before normal export levels could be resumed...
...price of petroleum has threatened the virtual bankruptcy of whole economies, destabilized political systems, and even toppled governments. At one extreme, the social unrest that led to this year's military coup in Turkey was fueled, to a considerable extent, by the inability of that nation to maintain normal economic growth in the face of ever higher prices for imported oil. The Iranian revolution, on the other, was spurred by precisely the opposite problem: a far too rapid, and socially disruptive, industrial development that was made possible by inflated oil prices...