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Heller Sees Arab Oil as Interruptible Energy
Economist Walter Heller, University of Minnesota, warned Arab oil supplies should be treated as interruptible energy. He predicted a 25 to 30 billion dollar 1974 GNP cutback, inflation around 7 to 8 percent in early 1974, rising unemployment above 6 percent by year end, and a recovery to lift spirits later in the year.
MENTIONED IN THIS ARTICLE
Minneapolis
University of Minnesota
John F. Kennedy
Council of Economic Advisers
Congressional Joint Economic Committee
Washington, D.C
Heller