Brioni OPEC meet ends amid price push and profiteering
Yugoslav hosts run a price escalating display for OPEC officials on Brioni island with stratified rates for natives and foreigners, a ticket scam at Fazana, inflated meals and ice cream costs, and security checks. An oil minister lamented a likely final Brioni conference as prices lag global targets.
MENTIONED IN THIS ARTICLE
Seioni
Yugoslavia
Organization of Petroleum
Adriatic
Gabon
Etienne Guy Mouvagha Tchioba
OPEC
la Palma
Fazana
Branca
Brioni Island
Karmen
Brioni
OPEC Ministers Talk But No Formal Production Pact
Cartel Kan's oil minister said informal promises from OPEC members would restrain output to avert another price drop though the closing communique omitted any voluntary limits. Analysts expected prices to fall modestly or hold steady depending on unanimity, with disagreements over proposed production targets.
MENTIONED IN THIS ARTICLE
Kan
OPEC
Bryan Jacoboski
OPEC considering target price and production cuts this summer
A majority of OPEC members support a 17 to 19 dollar price target per barrel but see it as meaningless without agreed quotas. Nine members favor limiting total production to 17.4 million barrels daily this summer and 17.9 million daily in the last quarter, versus current output around 19 million. Iran Libya and Algeria push for larger cuts to lift prices toward 28 dollars per barrel.
MENTIONED IN THIS ARTICLE
OPEC
Iran
Libya
Algeria
Texas Faces Deepening Recession As Oil Slump Persists
Economist Weinstein warns Texas unemployment could hit double digits by mid-summer as 1986’s first quarter contracts at a 1 percent annual rate. He cites sliding oil prices as theMain cause while Senator Bentsen argues House tax plans would raise oil and gas taxes, worsening Texas’ economy ahead of a conference between House and Senate leaders.
MENTIONED IN THIS ARTICLE
Weinstein
Texas
Senate and House Clash Over Oil Tax Breaks In Bill Dispute
In mid July a conference to reconcile differences between the Senate and House tax overhaul bills is expected. The Senate plan preserves oil and gas tax breaks favored by the Reagan administration, while the House would phase them out or cut them. The House bill would end the percentage depletion allowance and cut intangible drilling costs deductions, which cover labor and fuel. The depletion deduction currently allows producers to deduct 15 percent of a well’s income annually.
MENTIONED IN THIS ARTICLE
Bentsen
SMU
Texas
House
Senate
Dignity rally at St Patrick’s Cathedral marks gay pride day
Members of Dignity, a Catholic homosexual group, rally on the steps of New York City’s St Patrick’s Cathedral for Gay Lesbian Pride Day. TEC coffers run steady as administrator Bill Grossenbacher says a $340 million line of credit is sought from the Unemployment Insurance Service to cover benefit payments through October amid a surge in claims from the sagging state economy.
MENTIONED IN THIS ARTICLE
Members of Dignity
New York City
St. Patrick’s Cathedral
TEC
Bill Grossenbacher
Unemployment Insurance Service
Department of Labor
Texas fund strains under high unemployment hurt
From the 1A days, Grossenbacher says the Texas fund with $22.7 million balance must cover $6 million in daily payments. An 80 percent rise in claims followed a weaker economy that pushed unemployment to 9.6 percent in May. Staff writer Pat Ray and AP contributed.
MENTIONED IN THIS ARTICLE
Grossenbacher
Texas Fund
Texas
Pat Ray
The
Associated Press
Outage disrupts Odessa area as power short affects services
Griffin assesses damage and potential replacement costs after a weekend electrical short. At Medical Center Hospital no surgeries or births occurred during the outage, with life support backed by batteries and emergency power. A Pizza Hut manager lost about 150 dollars as ovens stayed cold during the central Odessa blackout. A Globe of the Great Southwest theater cast resumed after lights failed just before makeup and rehearsals.
MENTIONED IN THIS ARTICLE
Griffin
Medical Center Hospital
Donna Reid
Reid
Jeanne Campbell
MCH
Campbell
al Maniez
N. Grant Ave
Pizza Hut
Odessa
Maniez
John McAhon
Permian Basin Weekend Weather Outlook With 20 Percent Rain Chance
National Weather Service forecasts Española mainly sunny skies with a 20 percent chance of rain into Tuesday night for the Permian Basin. Overnight temps in the low 70s, south winds 5 to 15 mph, highs in the mid 90s. High pressure over Texas brings clear skies in much of the state, with scattered storms in the eastern Panhandle and Far West Texas.
MENTIONED IN THIS ARTICLE
National Weather Service
Permian
Weather Service
Midland
Texas
High Plains
Panhandle
Guadalupe Mountain
Marfa
Corpus Christi Naval Air Station
West Texas
Rio Grande
South Plains
Concho Valley
Far West
Big Bend
South
Rio Grande Plains
Pep Abilene
Amarillo
Austin
Brownsville
Corpus Christi
Dallas
el Paso
Houston
Longview
Lubbock
Marta
McAllen
San Angelo
San Antonio
Stephenville
Texarkana
Waco
Hi Lo
Atlanta
Cr Billings Rm Chicago
Odessa American Public Notices Section Pricing Note
The text lists publication details for The Odessa American including address, postal information, and subscription prices for daily and Sunday editions, as well as delivery contact. It includes rates for daily and Sunday, Sunday only, and mail subscriptions with prices and tax notes. The piece also notes delivery problems contact numbers and publishing frequencies.
Also Mentioned on This Page
Osts
U.S
McAhon
Daniel O. Poppy
Globe
North
Midland Regional
Tue
NOAA
US Dept of Commerce
Denver
Los Angeles
Miami Beach
Phoenix
Richmond
St Louis
Salt Lake City
San Francisco
Seattle
Odessa American
Fourth Street
P.O
Home Delivery
Imo
Lee
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