Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Again and again, the cartel formed by the Organization of Petroleum Exporting Countries raised the price of oil until it reached unprecedented and numbing heights. The producing nations' "take" from a barrel of oil, less than $1 at the start of the decade, was lifted from $1.99 before the Arab-Israeli war 15 months ago to $3.44 at the end of 1973 to more than $10 at the end of 1974. The result is the greatest and swiftest transfer of wealth in all history: the 13 OPEC countries earned $112 billion from the rest of the world last year. Because...
COOPERATING ON OIL. During a meeting in Martinique, Ford and French President Valéry Giscard d'Estaing reached an agreement that should end a debilitating, year-long sparring match between Washington and Paris over a vital matter: how to deal with the OPEC (Organization of Petroleum Exporting Countries) cartel responsible for the fourfold rise in oil prices that has so shaken the industrial economies. The U.S. has maintained that the consuming countries must form a united front to deal effectively with the OPEC cartel. Unhappy with this implied strategy of confrontation, the French have urged tripartite negotiations...
Since the explosion in oil prices and the beginning of the downward drift of the industrial economies a year ago, there has been a proliferation of plans aimed at coming to grips with the energy crisis and the massive shift of wealth to the OPEC (Organization of the Petroleum Exporting Countries) nations' treasuries. Herewith a thumbnail guide by category to some of the major positions and proposals...
...because of inflation, their outlays will be down in real terms for the first time in years. Most forecasts agree that the biggest spenders in 1975 will be coal, copper and other mining companies, which plan to increase their capital outlays by a dramatic 40%, to $4 billion, the petroleum industry (up 35%) and iron and steel firms...
...Suez Canal (see following story) and the beginning of trade relations as the price of further Israeli withdrawal. For tactical reasons, Rabin has now set his sights much lower. He will not agree to give up the Abu Rudeis oilfields, which now provide Israel with 50% of its petroleum needs, or the Giddi and Mitla passes in the Sinai without substantial Egyptian concessions. But for a renewal of the terms of disengagement between Israel and Egypt, he says he is prepared to withdraw Israel's forces as much as 30 miles farther back into Sinai, though the two passes...