Page 8-Saturday, May 6, 1978-The Michigan Daily
OPEC I
TAIF, Saudi Arabia (AP) -
Ministers from 13 nations that control
half the world's oil production gathered
in this cool mountain resort yesterday
for a meeting on long- and short-term
pricing policies, but they are not expec-
ted to raise prices.
The ministers, representing the
members of the Orgnization of
Petroleum Exporting Countries, will
meet informally today, without an
agenda. said OPEC president Valentin
Hernandez Acosta, the minister from
Venezuela.
HE SAID that since this gathering of
OPEC ministers is informal, it is
unlikely they will vote to change oil
prices now.-Abdul Aziz al-Turki, Saudi
Arabia's deputy oil minister, agreed.
The two officials met with reporters in
a luxury hotel and convention center
overlooking the Red Sea.
Hernandez said there is agreement
among OPEC members that long-term
pricing policies must be drawn up, but
GEORGE CUKOR'S
DAVID
COPPERFIELD
A compelling mixture of Dicken's
London and Hollywood storytelling,
great csting includes W.C. FIELDS
as Mr. Micawber.
Sun: Santa Fe Trail (FREE)
Fri: Bang The Drum Slowly
Sat: Sleeper
Sun: Broken Blossoms (FREE)
Cinema Guild is looking for new
student members-applications at
ticket desk
Cinema Guild
Tonight at 7:30 & 9:30
$1.50
NO PRICE HIKE SEEN
[eaders meet informally
disagreement about the details and time is not right to raise prices now, known as ยข Ras Tanura light, a Saudi
timing of such a plan. either directly or through a change in variety. Other prices are adjusted to
He also said that there was "accep- methods of calculating costs. reflect differing qualities.
tance" on the part of the consuming
public that oil prices will go up.
The Venezuelan minister said he per-
sonally favors raising prices rather
than moving away from the dollar as
There have been suggestions by some
OPEC members, notably the richer
"YOU REALIZE now that energy the means of calculating oil prices, or members of the Persian G(uW tseik-
prices must go up," in part to spur asa means of actual payment. doms, that prices be denominated in
development of alternatives to oil such some "basket" or combination of
as nuclear and solar energy, Hernandez HERNANDEZ stressed that he is currencies. This would protect
said. vigorously opposed to changing the producers against the weakening value
OPEC members recognize, he said, means of payment to anything but of the dollar.
that despite a decline - in real terms - dollars.
of oil prices over the past 18 months OPEC oil prices are currently set Saudi Arabia, the richest OPEC coun-
because of inflation and a drop in the unilaterally in dollars. The base price is try, also opposes switching from the
purchasing power of the U.S. dollar, the $12.70 per 42-gallon barrel for what is dollar.
CINEMA I
SATURDAY, MAY 6
THE MAGIC CHRISTIAN
Director: JOSEPH McGRA TH, 1970
One of the most hilarious films ever made. PETER SELLERS, as Guy
Grand, the richest man in the world, adopts RINGO STARR, the poorest
boy in the world; together they set out on a wacky crusade to upset
conformity, corruption, and hypocrisy. From turning a performance of
HAMLET into bedlam (Laurence Harvey does a strip tease) to proving
people will do anything for money, Guy Grand and Son bring spontaneous
chaos wherever they go. Music by Badfinger..
The Ann Arbor Film Cooperative
PRESENTS AT MLB 3
SAT. MAY 6
3 WOMEN
(Robert Altman, 1977) 7T& 9:15-MLB 3
"Robert Altman's dream film about three women whose identities merge,
one into another, and flow together. SHELLEY DUVALL plays a beautiful
know-it-all girl who is an attendant in a health spa . .. SISSY SPACEK plays
the novice she breaks in, and JANICE RULE plays a silent artist who paints
lunging profile figures on the sides of swimming pools. The film is full of
Altman's overheards and murmurs, with a hallucinating quality typified by
his recurring use of self-absorbed twins m RKnever speak except, to each
other. A fine, musing film-THE HEM YORKER. Cinemascope.
TUESDAY: Beginning of Our Free Tuesday Showings
THIS WEEK: "THE UNHOLDY THREE"
AND "THE INVISIBLE MAN"
Irezhnev and 'chmidt
Brezhnev in Bonn,
fears nuclear war
BONN, West Germany (AP) - Soviet
President Leonid Brezhnev told West
German Chancellor Helmut Schmidt
yesterday that the world may be
engulfed ina thermonuclear war unless
the East-West armaments race is
halted, the Russian leader's aides
reported.
In a two-and-a-half hour meeting with
Schmidt on the second day of his four-
day visit to West Germany, the 71-year-
old Brezhnev described disarmament
as the world's "most pressing political
question," his aides told reporters.
BREZHNEV SAID the pace of the
arms race is moving faster than East-
West efforts to reach a disarmament
agreement and repeated his offer for a
joint U.S.-Soviet pact renouncing
production of the neutron bomb.
The United States developed the
neutron warhead as a weapon against
the Soviet Union's superior numbers of
tanks in central Europe, and if
President Carter decides to go ahead
with production the weapons would be
deployed in West Germany, NATO's
first line of defense against a Soviet
bloc invasion of Western Europe.
Carter has announced he was postp-
poning a final decision on whether to
build the bomb, which kills by high
doses of radioactivity rather than
massive explosions. He called on
Brezhnev to show his good will by
reducing the Soviet arsenal in return.
But Brezhnev replied by calling on Car-
ter to sign an agreement not to build
neutron weapons, and Carter said the
offer was meaningless because the
Russians don't need the bombs.
LEONID ZAMIATIN, Brezhnev's
spokesman, said the Soviet leader told
Schmidt that "the danger of a ther-
monuclear war remains" unless
something is done to end the arms race.
In their talks yesterday at moated
Gymnich Castle, the government
guesthouse 30 miles outside Bonn,
Brezhnev and Schmidt expressed
"strong interest" in reaching a
"positive conclusion" of East-West
disarmament talks on reducing troops
in Europe and U.S.-Soviet strategic
weapons.
The two men met alone in the
baroque, stone castle, as scores of West
German border policemen with sub-
machine guns patrolled the fenced park
outside, and Soviet plainclothesmen
stood watch inside.
BREZHNEV and Schmidt also
discussed the status of West Berlin, the
non-Communist half of Germany's pre-
war capital that is surrounded by East
Germany, said Klaus Boelling,
spokesman for the West German chan-
cellor.