Word: rational
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Dates: during 1970-1979
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...Simon's first and most urgent jobs will be getting the Administration to make up its mind about rationing. The possibility of having to ration gasoline and other fuels has been a nightmare haunting the White House since the Arab oil embargo began. The President, who abhors rationing politically, ideologically and administratively, managed to avoid even using the word when he went on television last week to outline a series of less stringent conservation and allocation measures. But by week's end the relentless press of events was sweeping the Administration closer to the dreaded decision...
Even a Cabinet-level energy emergency action group seemed to be reluctantly leaning toward rationing. At least it ruled out the most obvious alternative: piling heavy new taxes on gasoline in order to curb consumption. Members bowed to "political reality," as one put it, and concluded that such a boast could not get through Congress in an inflationary period. Treasury Secretary George Shultz, who argued to the end for the tax plan, finally agreed to have the group study a number of possible rationing plans. The leading one is the so-called "white market" system (TIME, Dec. 3), which would...
...financial penalty would compensate electricity customers for the energy loss incurred by steam users who exceeded their ration. The ensuing electrical shortage would force Cambridge Electric to buy energy from other New England utilities at double the company's own generating cost, Dery said...
Every driver might get a card entitling him to purchase a stated, small ration and pay the current gasoline taxes. If he bought additional gallons, the Government would tax him heavily at the pump. Everyone would be assured of a basic supply, but people who needed or wanted more could buy it, and the Government would collect additional revenue. Prices would rise, too, under this plan-or indeed any plan...
...samples cautions: "Don't choose anything with cotton-it's sky-high." In Bar Harbor, Me., a manufacturer of sea bags says that he is going out of business because he cannot get any more duck cloth. In San Francisco, Levi Strauss & Co. has begun informally to ration jeans and other denim goods to clothing stores. Women's Wear Daily predicts that manufacturers of cotton denim will not be able to accept new customers for "at least a couple of years...