Word: opec
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Dates: during 1980-1989
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VIENNA, Austria--OPEC negotiations to clinch an oil price and production pact stalled yesterday amid conflicting signals about the outlook for a final accord...
Gabon's oil minister, Etienne Guy Tchioba, said the cartel leaders might have to rework a tentative accord, reached Saturday, to retain the $18-a-barrel oil price and renew OPEC's existing set of national oil production quotas...
Carlson said he went on to lead a task force on OPEC-induced energy shortages and to run unsuccessfully for Senate, before taking the top post at the National Association of Realtors, the largest PAC in the U.S. With a laugh, he said he accepted the position "on behalf of making democracy work...
...French Economics Journalist Jean-Jacques Servan-Schreiber predicted that American multinational companies like IBM and ITT threatened to turn Western Europe into an economic province. Concern about foreign cash flowing into the U.S. arose briefly in the 1970s, when a weak U.S. dollar and the emerging clout of OPEC prompted fear of an Arab buying spree. By and large, however, the cautious oil sheiks steered their petrodollars into bank accounts and securities portfolios rather than toward the bricks and mortar of U.S. real estate and corporations...
...level that President Kennedy predicted in 1961. In commerce, the General Agreement on Tariffs and Trade has helped to slow the growth of protectionism. In banking, cooperation has worked to contain the threat of massive defaults and to manage the vast shifts of wealth brought on by the OPEC cartel. New opportunites for progress may exist in areas as disparate as protecting the ozone layer, stabilizing exchange rates, establishing rules for capital movements and trade, limiting nuclear weapons, or even the use of peace-keeping forces. Further possibilities will doubtless appear with increasing frequency over your lifetime...