Rising Oil Prices To Fuel Rampant Inflation
Washington analysts warn OPEC price hikes will push inflation above 10 percent in 1979 and 1980. Alfred Kahn projects steep rises in oil and food costs with gasoline and motor oil bills to rise at least 230 dollars yearly for the average family. heating oil up over 90 dollars. Forecasters expect unemployment to climb by 800,000 and GDP growth to lag by about two points due to higher energy costs and transport pressures.
MENTIONED IN THIS ARTICLE
Washington
OPEC
Alfred Kahn
Carter
Kahn
Albert H. Cox Jr
Merrill Lynch Economics
Organization of Petroleum Exporting Countries
Agriculture Department
Department
Barry Bosworth
Capitol Hill
United States
House Government Operations Consumers Subcommittee
Oil Import Freeze Set
President Carter announced seven participants agreed to set specific oil import quotas through 1985 and that the United States would freeze imports at 8.5 million barrels per day. European nations would have individual quotas fixed at the next EEC meeting in Washington. Carter also criticized OPEC for a 21.5 percent price hike to $20.90 a barrel, warning of inflation and reduced growth. The summit considered whether to adopt collective Western Europe quotas or retain country-by-country ceilings. Carter planned a state visit to South Korea after the summit.
MENTIONED IN THIS ARTICLE
Tokyo
Carter
United States
U.S
European Economic Community
Japan
Canada
Organization of Petroleum Exporting Countries
OPEC
Europe
New Kansas laws lift caps and gear rules July first
Ottawa safety chief Oren Skiles outlines changes affecting residents starting July 1. Youth helmet rules expand to ages 18 and under for motorcycle riders and riders. New licenses require color photos. Subdivisions may offer up to 500 dollars for information leading to crim e arrests on local property. Small claims rise to 500 dollars. Stolen property may be photographed for restitution in theft cases. Lending licenses to under 21 for liquor purchases becomes illegal.
MENTIONED IN THIS ARTICLE
Ottawa
Oren Skiles
Kansas
Skiles
Forest Park
Gas Crunch May Defuse The Fourth
A Rhode Island supplier reports weak clambake sales while a Maine town offers tourists free gasoline as the fuel crunch disrupts travel plans for the July Fourth weekend. Forty percent of states face tight supplies with major shortages in East city corridors. closures loom for West Virginia and Portland Oregon.
MENTIONED IN THIS ARTICLE
Peter Mackler
Associated Press
Rhode Island
Maine
West Virginia
Portland
Ore
Automobile Club of New York
Automobile Association of America
OPEC
Orange
Calif
Tony Grasso
Miami
James Rogers
Rogers
Pennsylvania
New York City
Edward Koch
Khadafy Says Libya May Halt Oil Exports Two to Four Years
Libyan leader Muammar Khadafy told Al Mustaqbal in Damascus that Libya would shut its oil exports for two to four years and store oil domestically. No government confirmation followed the claim. Libya pumps about 2 million barrels daily, supplying roughly 10 percent of U.S. imports.
MENTIONED IN THIS ARTICLE
Damascus
Syria
Muammar Khadafy
Khadafy
Al-Mustaqbal
Organization of Petroleum Exporting Countries
Hafez Assad
Libya
United States
Truckers Protest Disrupts Traffic Across States
Sporadic but effective truckers protests persist as blockades ease in New England and nationwide Guard deployments wind down. Violent incidents mark the strike, with blocked stops in Massachusetts and pickets at air terminals and docks.
MENTIONED IN THIS ARTICLE
Eric Kramer
Associated Press
New England
Massachusetts
Connecticut
Michigan
Denver
Washington
Virginia
Accomack
Northampton
Greensboro
Charlotte
N.C
National
Luther Hawkins Moates
Duncan
D.C
U.S. 301
Cecilton
Car NASA role eyed in Congress to reinvent cars
Washington lawmakers propose consolidating research to space agency under a national effort to create fuel efficient safer automobiles. Rep. Tom Harkin says NASA’s track record on moon goal proves it can lead auto tech, with private industry universities and labs joining. Budget may exceed 100 million yearly, but proponents argue long term savings.
MENTIONED IN THIS ARTICLE
Washington
House
Science and Technology Committee
Space Agency
Tom Harkin
Iowa
Transportation, Aviation and Communication Subcommittee
National Aeronautics and Space Administration
NASA
John
Kennedy
Harkin
Also Mentioned on This Page
Bosworth
Council On
Lynn Becker
Pomona
Osawatomie
Tim Erickson
Ottawa Herald
Skylab
North American Defense Command
Space Laboratory
Dublin
South Korea
DPS
Royals
Charles Gill
Associated Grocers
Wyoming
Colorado
Florida
California
Dallas
Safeway
Bill Callinar
Edmund Brown Jr
National Weather Service
Interstate 10
Mobile
Florida National Guard
Minnesota
Illinois
Congress
Subcommittee
Dan Glickman
D-Kan
Glickman
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