Word: geihinkan
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Dates: during 1970-1979
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...delegates get down to negotiations in Tokyo's Geihinkan, an elaborate Oriental replica of Versailles, the first question for the seven summit leaders is what to do about the world's most effective cartel, the Organization of Petroleum Exporting Countries. OPEC representatives will meet in Geneva two days before the Tokyo assembly begins, and they will almost certainly approve yet another hike in the posted price for crude, which now averages $17 per bbl. Some Administration officials have been arguing for a tough line against OPEC, and believe that the U.S. should even use economic clout...
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