The Michigan Daily-Wednesday, June 11, 1980-Page 5
OPEC fails to
agree on oil
price, but sets
target minimum
ALGIERS, Algeria (AP) - The
Organization of Petroleum Exporting
Countries (OPEC) failed to agree on a
unified oil price yesterday, setting only
a target minimum of $32 a barrel with
no deadline for its imposition, oil
ministers reported.
Saudi Arabia, which sells its oil at $28
a barrel and is the biggest producer in
the 13-member cartel, quickly announ-
ced it would not boost its price to the
minimum.
"I WILL NOT raise my price," Saudi
Oil Minister Ahmed Zaki Yamani told
reporters. Iran's oil minister, Ali Akbar
Moinfar, said his country would not
lower its price from $35.
Yamani, asked how long the Saudis
would hold the price line, said they
wouldn't raise it "under current
market conditions."
Libyan Oil Minister Abulssalam
Mohammed Zagaar told reporters, "It
is my understanding that Saudi Arabia
will raise its price to $32 between now
and Septembr."
OIL MINISTERS said the pricing
arrangement is to take effect July 1. '
The Indonesian delegation said the
OPEC oil ministers attending a two-day
conference here also agreed to a ceiling
of $37 for a 42-gallon barrel, which could
stop the leap-frogging tactics used by
price hawks in recent months.
Only Algeria now charges
more-$38.21-but sources said Algeria
would not have to lower its price
because it includes a $3 "exploration
fee" that can be refunded, and the "of-
ficial" price is $35.21.
U.S. oil industry economists said the
agreement could eventually mean a
one-to-two cent increase in the price of
a gallon of gas sold at U.S. pumps.
SAUDI ARABIA, which accounts for
one-third of OPEC's oil output and is
the world's largest oil producer, has the
lowest price among the cartel's mem-
bers.
Iraqi sources said a group of coun-
tries in the middle-price range, in-
cluding Iraq, Kuwait and Qatar, would
raise their current prices from around
$30 a barrel to the recommended $32.
But the United Arab Emirates also is in
the $30 range and Oil Minister Mana
Saeed al-Otaiba said that he would not
raise his price immediately.
Monifar, considered a price hawk,
predicted the Saudis and other
moderates would hike their prices in
"suitable time," although possibly not
"in one step."
The OPEC oil ministers also were
reported to have agreed on cutting
production to prevent increasing the
current glut on world markets to the
point of forcing lower prices.
IRAN'S AYATOLLAH SADEGH KHALKHALI scratches his head during a
session of the parliament yesterday in Tehran. Some members have indi-
cated the fate of the American hostages may be considered sometime in July.
Carter says Clark
should, be prosecuted'
Carter hints to mayors
of limited aid for jobless
(Continued from Page 1) was Kennedy, a rival to Carter for the
a Democratic nomination. Kennedy had
inserted into his prepared text as he announced plans to address the mayors
spoke - followed two days of promises yesterday, but conference officials told
made to the mayors by rival presiden- him he was not welcome on the same
tial candidates. day as the president after the White
THE MAY jobless rate of 7.8 per cent, House objected to the impending joint
the worst jump in four years, has been a appearance.
major topic at the convention, and the,
mayors are pushing for major anti-,
recession relief for big cities hard hit by
unemployment. STRETCHING IT
Carter was the third presidential RICHMOND, Va. (AP)-The concept
candidate to address the weeklong of of stretching prior to athletic activity is
conference of city leaders, and he drew not new. Flexibility has long been em-
by far the warmest welcome, including ployed by people in ballet, karate and
extended applause covering his arrival yoga with great success, says Robert
and departure at the convention hall. Mangine, a physical therapist at the
Most of the country's big-city mayors Medical College of Virginia here.
are Democrats, and most of them have In an article in USA Diving he cites
endorsed Carter's re-election. But the following advantages of flexibility
Reagan and independent John Ander- exercises for warm-up in place of
son also were well courted by the calisthenics.
mayors. -Less energy is expended in war-
Reagan, who is proposing major tax ming up.
cuts to prime the economy, also offered -The muscles are elongated to work
the cities attached to federal aid and throughout the full range of motion.
more help through revenue sharing. He also cautions "The muscle must
Anderson promised $8 billion in new be stretched, but not to the point of
federal grants. pain. Once in the stretched position, it
The candidate who did ,ngt apperl ,;t. must be' e415to ?Q seconds."
By the Associated Press
President Carter said yesterday that
former Attorney General Ramsey
Clark so damaged the nation's foreign
policy by traveling to Iran, that "my
inclination is, within the bounds of the
law," to order him prosecuted.
The president said the trip by Clark
and nine others to attend a conference
on America's "crimes" against Iran
was "damaging to the nation's foreign
policy and to carrying out sanctions
against Iran."
BUT CARTER SAID the decision of
how and whether to proceed against the
10 would be up to Attorney General
Benjamin Civiletti.
"My guess would be he would seek
civil penalties," the president said.
Convictions for violating the Inter-
national Emergency Economic Powers
Act, which has the effect of banning
travel to Iran, are punishable by a
maximum 10 years in prison and a
$50,000 fine.
Meanwhile in Iran Ayatollah
Ruhollah Khomeini told his people
yesterday that internal bickering
threatens the revolution's survival, and
"if +hin reman tis wavme a nnoat
country."
SPEAKING TO provincial governors,
Khomeini said, "There is
disorganization and misunderstanding
at all levels of government and society.
It is from the inside that we start
fighting each other and destroying
ourelves. We have to establish a system
in order to further our cause. We must
have enough courage to confess that we
are not brave and do not have growth."
Khomeini's speech to the governors
came amid a dispute in Iran's
parliament over who will become the
country's prime minister.
President Abolhassan Bani-Sadr has
criticized different "decision-making
centers" for causing administrative
problems for the Islamic revolution in
Iran. He has vowed to "unmask those
opportunists trying to undermine the
capabilities of the executive branch of
the Iranian Islamic government."
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