Heavy with cargo, low-riding oil tankers bucked through the windblown South Atlantic last week on their way from the Persian Gulf to Philadelphia, Baltimore, Norfolk, New York and other U.S. ports. In a week or so, they will tie up at their destinations—and the U.S. will enter a sterner, more painful new era of energy shortages. These huge ships were the last to be loaded before the Arab states blocked all petroleum shipments to the U.S. in retaliation for American support of Israel. The Arab move is expected to diminish by a...
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