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Summit energy talks to dominate Carter Japan trip
Washington reports the forthcoming economic summit in Tokyo will be turned into an energy summit. Leaders of seven industrial nations including Carter, Japan, France, Germany, Britain, Italy and Canada will seek a joint energy program to ease oil shortages and curb the risk of a recession. OPEC’s upcoming Geneva meeting looms as a possible price hike to $20 a barrel. IMF data show oil exporters earned a record surplus, spotlighting the need to cut demand. Proposals include a $10 billion international energy fund, coal substitution for oil, and extending a 5 percent oil-use reduction accord to curb prices.
MENTIONED IN THIS ARTICLE
Washington
Carter
Japan
Tokyo
OPEC
Organization of Petroleum Exporting Countries
France
Germany
Great Britain
Italy
Canada
Treasury
W. Michael Blumenthal
Geneva
Switzerland
U.S
Internation Monetary Fund
United States
Blumenthal