Word: cartelism
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...accusing the multinational oil firms of merely acting as tax-collection agents for the oil exporters." No need to accuse anyone: the board chairman of British Petroleum called the companies tax-collecting agents, and I think rightly. As for any "concerted diplomatic effort to break the OPEC cartel," that cannot happen soon. Our Government, by threatening to pre-empt oil supplies and sponsoring preferential treatment for Saudi Arabian oil, has so scared and embittered our European and Asian friends that they would not listen even if we spoke the truth...
...Economist Morris A. Adelman has gone even further, accusing the multinational oil firms of merely acting as tax-collection agents for the oil exporters. Both he and Jackson have suggested that the U.S. and other big oil consumers join together in a concerted diplomatic effort to break the OPEC cartel...
Morris A. Adelman, professor of Economics at MIT, said that current oil shortages and rising gasoline prices are due to several causes. He said that at the same time that the U.S. ran out of low-cost domestic sources and began importing more oil, an international cartel composed of the governments of oil-producing countries monopolized the supply...
...about sensational fare cuts on flights across the North Atlantic this summer, international airlines finally gave passengers the real news last week: starting April 15, rates will, in fact, go up. The 109 lines that are members of the International Air Transport Association, the industry's rate-fixing cartel, actually decided to continue fares at present levels through the rest of 1973-with certain adjustments to reflect recent rejiggering of currency-exchange ratios. For Americans paying for their tickets in devalued dollars, prices will thus rise an average 6%, boosting the round-trip cost of the cheapest scheduled...
...costs by flying fully loaded planes. But weeks of effort by U.S. and European government negotiators to break the deadlock over just how little to charge for the new service have proved futile. Last week representatives of the International Air Transport Association, the scheduled airlines' rate-fixing cartel, began meeting again to make another try at reaching an accord...