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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Sep 25, 1990
Page
1
Energy experts in the Permian Basin warn crude oil prices approach 40 a barrel as Persian Gulf tensions and threats from Saddam Hussein push benchmark futures higher. Trading on the NYMEX neared 38.25 for November delivery, marking another high amid signals of possible international oil embargo and IMF rescue plans.
At the U N General Assembly leaders condemn Iraq as a warlike state for its invasion of Kuwait and vow stronger sanctions as oil prices surge to a record 38 dollars per barrel. Iraq rejects linkage of hostages to any other issue while Saddam vows to fight for a thousand years.
Texas lawmakers urged preserving 1990 crime bill funds that back more than 200 rural and border drug task forces across the state. A House Rules Committee debate on amendments could shift $27 million away from Texas to cities or larger states, risking rural and border enforcement partners like Del Rio and Laredo.
President Bush praised F W de Klerk as South Africa moves toward ending white supremacist rule and said US sanctions will lift only under clear, unaltered conditions. He urged peaceful transition with all groups, including Mandela, noting protests outside the White House during the visit.
The Supreme Soviet voted to move toward a Western style market economy and gave President Mikhail Gorbachev new powers to issue decrees on property wages prices budget finance and law and order. Critics warned of monarchy risks while protesters gathered outside the Kremlin demanding accountability.
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