Word: oils
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Dates: during 1970-1979
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Gradual increases in the price of oil are the best way to avoid a major worldwide energy crisis in the 1980's, a Saudi Arabian oil minister said yesterday...
Hadi Abdul Taher, Saudi Arabian Minister of State and governor of the Petroleum and Minerals Agency (PETROMIN), told an audience of about 75 in Science Center C that unless both oil producers and consumers take a "moderate approach to the price question," the result may be "really important imbalances...interruptions of continuity of supply on a high level" sometime in the next 10 to 15 years...
Although the international political situation precludes an immediate raise in oil prices, eventual increases will be necessary in order to balance supply and demand, Taher said. He added these increases might follow inflation in oil-consuming nations...
...explanation, OAPEC spokesmen argued that a sizable increase was warranted because "persistent erosion" of the dollar and inflation in the developed countries had cut the real price of a liquid barrel of oil almost by half since 1973. Some other delegates also stressed Arab pique at the Camp David agreement. Iraqi Oil Minister Tayeh Abdul-Karim blasted it as "a policy of surrender" and made clear that he thought the Saudi policy of "moderation" on oil prices had done nothing to advance the Arab cause in the Middle East peace negotiations. Saudi Representative Abdul Hadi Taher replied bluntly that Middle...
...Norwegians had invited the Arabs to Oslo in hopes of selling them some of the equipment and expertise they have developed in exploiting their own North Sea oil deposits. The Arabs, in turn, want the Norwegians, as well as other non-OPEC oil producers like Britain and Mexico, to link up with the cartel in some fashion, the better to expand its power to keep prices high. While the Norwegians emphasized that they had no intention of joining OPEC, Energy Minister Bjartmar Gjerde acknowledged the interest of his country in "prolonging" the benefits it has been getting from its North...