Word: pricing
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Dates: during 1970-1979
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Today Mohammed Reza Pahlavi is a man of 60, battling cancer, unwelcome in most countries of the world, and bearing a price on his head (an all-expenses-paid pilgrimage to Mecca, offered by the revolutionaries who overthrew him to anyone who succeeds in killing him). Ayatullah Ruhollah Khomeini and his aides are filling the air with tirades against the Shah as a "U.S. puppet," a Hitlerian "criminal" who tortured and killed hundreds of thousands of his subjects, a thief who looted Iran of untold billions. At the other extreme, the Shah's defenders cite the praises heaped...
...Japan. The idea might have seemed laughable initially but, as Western demand for oil kept climbing, the Shah's ambitions began to look more plausible. The Shah, whose country pumped 7% of the non-Communist world's oil imports, led the way in the first huge price increase, from $3 to $12 per bbl. between 1973 and 1974 and, though he aided the West by refusing to join the Arab oil embargo, he also kept urging OPEC to go on increasing its prices...
Gueiler is trying a more workable approach. Last week she announced a package of tough new policies. Among them: a stiff hike in the price of gasoline and other fuels and a 25% peso devaluation. But her tough new plan provoked a warning from the heads of the powerful Central Labor Federation, which had sponsored a general strike that helped propel Natusch from office. Workers, declared Federation Leader Juan Lechin Oquendo, "will not accept economic measures that affect their income." If Gueiler's new proposals are carried out, he threatened, his followers were ready to "struggle in the streets...
...rising price has already forced the oil-importing developing nations to pile up a staggering $300 billion in foreign debts, and some Third World countries are close to bankruptcy. A few big defaults could severely shake the international banking system. As poignant testimony to the squeeze on all the developing countries, Sri Lanka is now begging for mercy from the OPEC price pinch. In a government-sponsored petition that President Junius Jayawardene hopes will be signed by 3 million of his nation's 14.5 million citizens, the island republic pleads plaintively that the cartel grant special concessionary prices...
OPEC producers hardly seem in the mood to be particularly generous to anyone. Though Treasury Secretary G. William Miller spent much of last week in Persian Gulf capitals urging price moderation and a boost in production, officials did little more than listen politely...