Word: pez
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...which held 70 Amercians captive for hour (see WORLD). Now a worried Jimmy Carter, flanked by Secretary of State Cyrus Vance and National Security Adviser Zbigniew Brzezinski, was off on an important state visit to Mexico. No sooner had he arrived there than President José LÓpez Portillo welcomed him with a public scolding. In the midst of all this, Carter learned that two Persian Gulf sheikdoms were taking advantage of the Iranian crisis to raise their oil prices 7%, a blow to his antinflation campaign...
...course, the natural customer for Mexican oil and gas, and López Portillo knows that, but the issue is now tangled with national pride. In Mexico City last week, leftists were urging Lopez Portillo not to back down during his talks with Carter. Advised Gaston Garcia Cantu in the magazine iSiempre!: "The saddest destiny awaits those on whom the Americans bestow the dubious title 'Mister Amigo.' " Several thousand students demonstrated in Independence Plaza, carrying anti-Carter placards and chanting "iFuera...
...match Iran's pre-crisis output of 6 million bbl. per day. The CIA is even more bullish. Its experts forecast that in ten years, Mexico could pump 10 million bbl. per day, which is slightly more than Saudi Arabia's current production. But López Portillo probably will not budge on Mexico's plans to increase production more slowly, to 2.25 million bbl. per day by 1980, including 1.1 million bbl. for-export. (Present U.S. oil consumption per day is 18.7 million...
...Resumption of negotiations on the sale of natural gas to the U.S. López Portillo has already indicated to Ambassador Lucey that he wants to strike a bargain on gas if a way can be found without inflaming his political opposition. For the moment, however, Carter is expected to propose only a gentleman's agreement that Mexico promise to begin selling gas to the U.S. when demand outstrips domestic supplies, perhaps within a decade. The price would be negotiated in the future...
According to Mexican officials, López Portillo will tell Carter that he is willing to bargain on oil and gas, but only if the U.S. is willing to negotiate on two issues that matter most to Mexico...