Word: nigerias
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...tightening in worldwide oil supplies is also kicking up the cost. Since January Venezuela has doubled its price, to $7.20 per bbl. In the past three weeks, Nigeria's has almost doubled, to $8.40 per bbl., and Indonesia's has increased 20%, to $6 per bbl. Price controls on U.S.-produced petroleum will be slowly loosened in the near future in order to tempt oilmen to expand exploration and boost supplies. Rising oil prices will lift the cost of such other fuels as propane, natural gas and even coal...
...Venezuela's 56% boost in its posted prices and Nigeria's announcement that it will almost double its prices, Indonesia announced a 20% rise, to about $6 a bbl. These increases are certain to send up the cost of U.S.-produced oil, which under Phase IV controls is held to an average of $4 per bbl. But "new" oil-all production of a well above last year's total-is exempt from controls, and it is now selling for $5.60 or more per bbl. By next year it is expected by independent producers to leap as high...
...friends in the world, either because nations fear an Arab oil cutoff or because they see Israel-despite the Arab surprise attack-as the real aggressor for having held onto territory captured in 1967 and thereby provoking the Arabs to fight to take it back. During the combat, both Nigeria and Ethiopia, the latter a longtime diplomatic ally, severed diplomatic relations with Israel...
...biggest foreign supplier, has slapped a 40?-per-bbl. tax on oil exported to the U.S. as a means of keeping its fuel at home. (Taking advantage of the tight supply situation, Venezuela, the nation's second largest foreign source of oil, kicked up prices 56%, and Nigeria announced that it would soon post an increase.) So the U.S. must take drastic conservation measures, and some already are beginning. With Government encouragement, three airlines-American, TWA and United-agreed to save jet fuel by canceling 82 flights daily. Round-trip flights between New York and Chicago will be reduced...
...KING OF DAHOMEY. Dahomey's tribal chiefs, unlike those of neighboring Nigeria, were stripped of power by French colonizers. Despite his titular position as President of Dahomey's "Customary Tribunal" (which is totally ceremonial), Togni-Ahossou Agoli-Agbo, now 61, has relatively little local authority. Spiritual head of the 1,000,000 or so Fons, the country's largest ethnic group, the King gets a small stipend from the national treasury. He gets by otherwise on gifts from loyal subjects as well as fees from camera-happy tourists who snap him in his royal robes and silver...