Pacific Stars And Stripes Newspaper Archives Dec 4 1982, Page 22

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Pacific Stars And Stripes (Newspaper) - December 4, 1982, Tokyo, Japan 22 business 3 counties in Are torn by hard times a signs of economic hard times Are every where in this tidy Sawmill the commercial Hub for three North Eastern Washington counties that have an average unemployment rate of 21 life Here is shot to pieces by the Lousy and there is nowhere else to said Marvin who manages the state employment Security office that hands out unemployment checks in ferry and Pend Oreille up to we Haven suffered All that much but i suspect that going to change this Ray said a Large percentage of the areas unemployed have been out of work so Long that their benefits Are final checks Are just ahead for some jobless for two years rays department estimates unemployment averaged 21 percent month in the three All of which depend heavily on the depressed Forest products you could have another 10 percent who Are not being counted because they simply have Given up on getting said some people Here Haven worked now for up to two unemployment in Pend Oreille county has been the highest in the state for much of the past rising to nearly 30 percent last in the Region where Winter temperatures sometimes plunge to 40 below Zero half the total income is derived from logging and four of the 10 sawmills in the three county area have collapse in slow motion the counties cover Square Miles and have a population of about Ray with is the largest town in northeastern since with the Timber Industry the Economy has been collapsing in slow who also is president of the Colville chamber of monitors business failures As Well As the growing ranks of two years ago we had 52 real estate agents working in the Colville he about 30 to 35 Are the shelves in some stores Are sparsely stocked because they just dont have the Money to reorder new Ray country an Auto Deal folded seven weeks one business on main Street is doing Well the Goodwill second hand were the Only store in town that doing a Good business these says Verna some times its so crowded in Here that you can hardly move Dawn manager of col Villes Volunteer food says the Agency resources Are limited to emergency we Haven had to turn Down a single person in the year Ive been she but if we tried to help All of our needy wed be stripped Bare in a week or Pacific stars and stripes december 1982 soft shoe number in space David Quinn holds two pairs of the Slipper socks shuttle quinns maker of the is worn by astronauts on the last two Columbia space the Acorn products in a the International Energy Agency stumbles with scare Oil scenario Washington Post Washington As if it were still relying on what was True yesterday but doubtful the 21nation International Energy Agency has rolled out yet another highly touted world Energy out warning of a potential new and devastating Oil shortage in the mid Tolate of its Wise to cover All bases the Western world certainly should have a contingency plan to Deal with the possibility of another Oil embargo or shattering event in the Middle we for to make sure that we keep an adequate strategic Petroleum but the Best answer to the Leas worst Case scare Story comes in an extraordinary Way from a fou Page advertisement in the Wall Street journal extolling saudi arabian rags torches Progress since the saudi and contains this Stark evaluation of the declining demand for Oil and the Prospect for still falling prices during the last 18 it has become Clear that the mighty Oil weapon is rapidly falling demand among the Oil importing nations is not As temporary As it Standard Oil company of califor Nia Socal forecast recently that there will be no real rises in Oil prices before the late and that demand for open Oil in 1990 is Likely to be Only half the estimates made four years world conservation and a search for alternative Energy sources has backfired on the Oil ads bought by National economic development agencies Are usually self serving this one in the Wall Street journal is no but also contains Candor with a a Wasj advertising executive said that what it Calls advertorials were written by London freelancers commissioned by the journal to achieve firs class newspaper qual commentary the copy was not cleared with the the journal told says a critic of open some of it sounds like the stuff Ive been writing As the articles in the journal make the Oil glut is not a temporary Flash in the but reflective of a totally new dynamic in the world Oil suppl demand that what analysts like Fred Singer of the heritage Eliyahu Kanovsky of Queens col and Washington Energy experts Philip Lawrence Gold and Joseph Lerner All from differing perspectives have been saying for the last couple of specs share of the world Oil Market has declined even More sharply than has the total demand for put it around the other the Market shares of the North and other Nono Pec producers have been and yet to be heard Down the Are China and still other Large potential but not everyone certainly not the blinders on Iea has been paying attention to what is going on in the real the Iea bureaucrats should read this from another advertorial in the fou Page spread in the Wall Street journal the current financial year will be a crucial test for the saudi economic it is generally accepted that in order to meet its the saudis need an Oil production level of at least million barrels a in recent months it has dropped to million barrels a Day As a result of the Oil glut and the fall in world the 198283 at saudi rials showed a current account surplus of or but that was before Oil production had fallen below the breakeven even though forecasts in the demand for Oil have become notoriously a deficit in the current account at present seems with an Economy still overwhelmingly dependent on one prod the government is preparing with characteristic caution for a prolonged slump in the what does it add up to As Singer suggests in a phone conversation from the Iea set up after the 1973 Arab Oil embargo ought not to be wasting its time with scare scenarios about shortages and Price but focusing on what kind of coordinated Effort the West might make to Cope with a collapse in Oil

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