Word: offsets
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Dates: during 1970-1979
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...supplies fall, the price of oil is going up. Though Saudi Arabia and some other OPEC nations have been pumping an extra 3 million bbl. per day at higher prices to offset some of Iran's export shortfall of 5.5 million bbl. per day, the net world loss of 2.5 million bbl. has still started what some oilmen describe as a wild scramble for crude in the free market. Since mid-December the spot price has nearly doubled, to at least $22 a barrel, vs. the OPEC cartel's price of $13.34. This windfall profit for European...
Sophomore duo Dan Menichella and Campari Knoepffler then offset the solid performance of Tiger silver medalist Bill Specht in the 200 butterfly by churning to eighth and ninth, respectively, setting the stage for the final two events...
These efforts, however, were not nearly enought to offset the poorest performances of the year by the Alpiners. According to Alpine captain Tim Hofer, the races were held on the toughest trail the team had raced on all year. "It's the type of hill where team skiing comes into play. A lot of guys aren't used to that," he said...
...service employees and other striking workers average 15%, the country could expect double-digit inflation by summer, reaching 13% by year's end (current rate: 9%). The wage hikes could add $6 billion to the cost of public services in Britain, which the Labor government might have to offset by raising taxes and cutting government expenditures by $3 billion. If so, the number of unemployed in the country could rise from about 1.5 million to 2 million...
...most visible change Carnegie II recommends would be the enormous increase in funding. Public broadcasting now receives $540 million from all sources; the report wants to raise that to $1.16 billion a year by 1985, about half of which would come from Washington. To offset a new drain on the Treasury, the commission proposes that commercial broadcasters be charged between $150 million and $200 million for the right to use the public air waves. Local stations would be expected to drum up $1.50 for each $1 that they received from the Government...