Portrait in Oil

March 1974
Challenge (05775132);Mar/Apr74, Vol. 17 Issue 1, p3
This article discusses issues related to the shortage and rising prices of oil in the world. It states that if there is a shortage of oil, the world must find a way to get around it and must invent substitutes. The world surely blames the Arabs as they cut supplies and raise prices, acting in their own selfish interest and no considering the rest of the world. On the international scene, the producing and consuming countries are more and more coming to make their arrangements on a state-to-state basis with oil and aid as the bargaining counters. Domestically the oil companies in the United States have not begun construction of any refineries nor will any be completed this year even though they knew that demand was rising. The government shall collect all the required information and will also plan the future course of action. But the brunt of the major policies will be borne by the public as the oil bills will rise. Energy is too precious for the mankind to forego it , therefore the Arab world will be getting richer by selling there oil to the world.


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