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WORLDWATCH: Oil Price War - No Solution on the Horizon
Plain Truth Magazine
October-November 1974
Volume: Vol XXXIX, No.9
Issue:
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WORLDWATCH: Oil Price War - No Solution on the Horizon

When the Arab oil embargo was lifted last March, the crisis, instead of being over, shifted into the realm of international finance. A lmost overnight the international oil bill has jumped from $25 billion to $100 billion. As a result, the twelve member nations of the Organization of Petroleum Exporting Countries are likely to register a trade surplus of about $70 billion for 1974 as opposed to only $5 billion last year.

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Plain Truth MagazineOctober-November 1974Vol XXXIX, No.9