Hide Article Text (OCR)
In face of’ Mideast ^crisis_L_- ;;' Y' *' -• LOKDOS, Oct. 18 (Keutm):ESTERN GOVERNMENTS and Japan iday stepped up their preparations for a possible major ehergy shortage as they tried to calculate the likely consequences of Arab plans to. cutd$ production. Tit decision■'^Announcing foVqit production indefinite*It by five per cent a month, the Arab oil states said in Kuwait yesterday ' tliey in* tended the measure to luirt otdfv the United States and o$'£r backers of Israel.. oil industry sources were extremely ' doubtful \i#eth«r it would be possible .to* insulate Western. Europe •add Japan — both heavily dependent on Middle Eastern -oil Applies — from the effects of •ay production cuts.cutbacks would evenLual-1*, .reduce the amount of ‘oil available to such an extent that they would inevitably hurt allRoundwbrmsCOnswr oil. VhtEasternuners of Middle e sources said.Yesterday's agreement appears to have left individual Arab states considerable flexibility indeciding how to deploy the 4‘oil in. the Middle East war,weaponas was indicated today by Abu Dhobi’s decision to bait oil oil supplies to the U.S.But under any circumstances, it was seen as extremely difficult for the Arab states to apply oil sanctions against the U.S. which could be guaranteed not to damage other countries.A boycott of American oil tankers, for example, would have • very consequences forWestern Europe and Japan,which obtain respectively about 50 and 88 per cent of the oil from the Middle East region.Industry- sources said that most of the oil carried by American tankers was destined in fact for Europe and the Arab states could have no control over the oil’s destination after it was pipedaboard.t'
Newspaper Details
Kingston Gleaner
Kingston, Kingston, JM
Fri, Oct 19, 1973
Page 13
Full Page
Clipped by
University O.
JM 15 Jul 2022
Other Publications Near Kingston, Kingston
Kingston Gleaner
Kingston Weekly Gleaner
Kingston Outlook Magazine
Colonial Standard
De Cordovas Advertising Sheet
