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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 8, 1973, Lethbridge, Alberta ivrj me icmpmuuc. Needed pretext to cut production War helps Arab oil-producing areas No gas People power propels another entry in the current rash of fuel-saving vehicles. Cap Hobbis of New B.C. blandly ignores gas pumps as he pedals past filling station in U.S.- made cyclecar which sells for and travels at 30 miles per hour. Dissension in ranks to be aired Socreds to discuss Quebec wing OTTAWA The Social Credit party plans to meet in Jan. 13 to decide what attitude the federal party will take towards the dissension-ridden Quebec provincial wing. despite the Sher- brooke some sup- porters of the Quebec wing are going ahead with plans for a general convention in Quebec City this weekend Camil Samson and Fabien the only two Creditistes to be elected in the Oct. 29 Quebec plan to at- tend the which has been condemned by Quebec leader Yyon Dupuis. Leonel chairman of the Social Credit Party CMC'S FINE FOODS EATS Fresh Produce OPEN 7 DAYS A WEEK ajn. to p.m. 15169thAve. S. BETWEEN THE TWO HOSPITALS said in a prepared statement that pending the Sherbrooke meeting of party federal members of the party have agreed un- animously not to intervene in the quarrels of the Quebec wing In his statement Mr. Beau- doin said the caucus wished to strongly against the false and misleading news from The Canadian Press on the position of federal Social Credit members in connection with the situation in the Quebec Parti Creditiste SAID WILL ATTEND A CP report from Quebec Nov. 30 said Mr. Roy had de- cided to disavow party leader Dupuis and to attend the con- vention of Quebec province supporters Dec 8-9. The report said Mr. Roy's decision was understood to have been taken following consultations with Social Credit members in the majority of whom wanted to disavow Mr Dupuis The report also said Real federal leader of the had taken the wind out of the members sails by call- ing a press conference and an- nouncing a meeting would be held in Sherbrooke to discuss the Quebec leadership issue The report added that Mr. Caouette had remained away from a subsequent caucus and members of his party were disenchanted with his manoeuvres. Mr. Beaudoin said in his statement is false and absurd to leave read- ers under the impression that there is dissension in our The post-election problems in the provincial wing surfac- ed at a general meeting of supporters in Drummondville Nov 18 By SHUMEL YAARI New York Service The Yom Kuppur war at least in one important a godsend for the Arab oil-producing countries. Had that war not taken those countries would nave had to find some other pretext for cutting their production of oil. But the cuts would have come anyhow. As it the war provided them with the opportunity they were looking for and there are naive people all over the world who believe but for the Arabs would immediately put their policy into reverse and the oil crisis would be over. More than three years Libya ordered a drastic cut of its output to 1 to 2.2 million barrels a day from 3.3 million The reason given was that the oil companies were depleting Libya's reserves at a rate faster than that prescribed by sound conservation rules Two years ago the govern- ment of Kuwait froze produc- tion levels at just over 3 million barrels a giving a similar reason. What would have been the very serious results of these decisions by two major Arab oil producers were neutralized for a principally by the phenomenal growth in output by another Afab Saudi which sits on the greatest oil reservoir in the world. In the three years ended last Saudi production leaped to 8.5 million barrels a day from 3.5 million. Ac- cording to the the Arabian American Oil Com- operating company that holds the Saudi concession output was scheduled to rise to 20 million barrels a day by 1980. But it must have been clear that not only would such an ambitious program never be but that even the recent rate of increase was being steamrolled by Aramco in the face of growing opposi- tion within the Saudi government. A number of cabinet ministers were advising King Faisal that it was time for their country to follow the ex- ample of Libya and Kuwait for urgent economic and financial reasons. In these it is not surprising that throughout his long had always rejected any suggestion of using oil as a political has lately found it expedient to introduce a political note into his public pronouncements on the sub- What is it that over the past two or three years has driven the oil-rich Arab states to strive toward restricting their output before they were vying with each other as to who would produce most9 It is the revolutionary change in their financial situa- tion over the past three years that is the basic cause of the oil crisis. The watershed was the beginning of under heavy pressure from the organization of petroleum ex- porting oil com- with the tacit approval of the importing put their signatures to the Teheran and Tripoli which sent oil prices rocketing at an un- precedented rate. No sooner had the ink dried on the documents than the OPEC countries began to find reasons for reneging on their commitments and imposing on the oil and on the importing series of that have kept prices spiraling ever since most of the Arab oil countries cannot spend usefully the billions that are gushing into their coffers The industrialization that King Faisal talks of might have been a possible were it not so patently hopeless in the conditions of Saudi which has a pop- ulation of some 6 million that has not long begun to emerge from a nomadic existence and apart from oil has hardly any natural resources to speak of. It looks even more hopeless in the case of Abu Dhari and all of them with much smaller pop- ulations and and no less barren. However much they try to force the pace of spending regardless of the inflationary pressures this would they cannot possibly avoid piling up billions upon billions of monetary reserves. From their point of it is more sensible to slow down the depletion of their only natural asset and preserve their horn of plenty for as long as possible By a curious accident of while most of the Arab oil exporters are desert all the major non- Arab exporters Venezuela and In- donesia are highly pop- ulated countries with an abun- dance of agricultural and other natural and can find good use for all their oil either for current needs or for development pro- jects against the day when they have exhausted their oil That is why they have not and probably will not accumulate in the unwieldy money reserves and have not needed to restrict production. Another common mis- conception that needs de- misting before the oil problem can be tackled is that any single importing country can assure its oil needs by long- term agreements with this or that Arab whether or not accompanied by political bribery. There is only one way of arresting the process which is threatening the international oil trade with complete and that is by getting the ma- jor consuming together to work out a joint plan for resisting the- pressures exerted on them SAND GRAVEL ASPHALT SAND and GRAVEL Conitruction Co. Ltd. PHONE For Complete Llveetock Sales and Service. call FRENCH Monday p.m. Feeder Hog 300 HEAD Top Quality Hogt Plus Baby a.m. FAT and FEEDER CATTLE 200 To 300 HEAD FRIDAY 10a.m. FAT and FEEDER CATTLE SALES m Friday -1 p.m. Special Stock Call I Feeder Sale 600 HEAD Top Quality Ranch Ca lves WE HAVE 200 Pregnant White Face Ewes For Sale HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY. WE CARRY HARTFORD INSURANCE ON ALL LIVESTOCK. Exporters of slaughter hogs Excellent licllltlos for Hiding tnd loiding hogs. j CONSIGN ALL YOUR LIVESTOCK C. E. FRENCH LIVESTOCK EDFRENCH 328-2986 DAN KLASSEN 345-4358 KEN MILLER. Mignlh 758-6607 LOU DEJA6ER 345-4489 WHITHENINGER 328-7354 In the Heart of Ranching Country Office 327-3986 Alberta Stockyards P.O. BOX S.S. ALBERTA Weigh carefully before you shoplift... THE PENALTY IS STIFF Your future is in the balance when you steal from a store. Just one shoplifting conviction can give you a criminal record which is all you need to wreck your life for good. Prospective employers bar their doors. Nobody wants a thief. Remember that when you're tempted to shoplift just for fun. When you get it's not funny. It's a tragedy and for Published as a Public Service by... The Letkbridge Herald In Co-Operation with the Lethbridge City ;