Word: nigerias
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Dates: during 1970-1979
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From Saudi Arabia to Sumatra, from Nigeria to the North Sea, up comes the oil. And every day, 24 hours a day?at a rate of 30,000 gallons per second?the petroleum-thirsting world swills it back down in desperate, energizing gulps...
Saudi Arabia $35,200,000,000 Iran $20,700,000,000 Iraq $9,800,000,000 Libya $9,800,000,000 Nigeria $9,500,000,000 United Arab Emirates $8,600,000,000 Kuwait $7,700,000,000 Indonesia $6,500,000,000 U.S.S.R. $5,800,000,000 Venzuela $5,400,000,000 Algeria $5,100,000,000 United Kingdom $2,400,000,000 Norway $1,700,000,000 Mexico...
...meantime, the Callaghan government has fallen and if Margaret Thatcher and her Conservatives win Britain's May 3 election, they will undoubtedly alter British policy in the direction of support for Muzorewa and Smith. Some Tory advisers have pointed out that Britain's relations with its African allies, notably Nigeria, could be jeopardized by an abrupt change in policy on Rhodesia. The Commonwealth Prime Ministers are scheduled to meet in Zambia later this year. If the African members should still be angry with Mrs. Thatcher at that time, they could embarrass her greatly by deciding upon some kind of retaliation...
...bravado was quickly underscored by a rash of surcharge announcements. Algeria and Libya both added $4-per-bbl. premiums to their much-in-demand low-sulfur oil, as did Nigeria, a nation that has made a practice of haphazardly squandering its petrodollars almost as blithely as Americans waste oil. Kuwait, Iran and Venezuela tacked on $1.20-per-bbl. surcharges. Mexico, though not an OPEC member, also got in on the gouging game; it added...
Continuing a rash of price-gouging moves by many oil nations, Nigeria, the fourth largest producer in the 13-nation OPEC cartel, indicated that it was planning to tack on an export surcharge of perhaps as much as 17%. That advance will add further pressure for a fresh round of inflationary increases early next week, when OPEC ministers plan to meet in Geneva. Indeed, by an ironic White House oversight, Carter is expected the same day to play host to the signing of the Egyptian-Israeli peace accords in Washington. Arab hardliners, such as Iraq, Algeria and Libya, could well...