SHEIKHS’ OIL PUTS THE SKIDS UNDER US RESCUE PLAN
Who says that the sheikhs no longer control the oil markets? A simple decision to increase production from 2.5 million to 5 million barrels a day threatens to undermine the Baker Plan even before the US Treasury Secretary’s bold shift in policy produces any firm results.
It is rapidly becoming obvious that a move which was intended to inject a little growth into Third World economies has in fact damaged them as the price of oil tumbles.
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