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OPEC / Oil Prices / Perez Interview #252888

CBS Evening News for Wednesday, Jun 29, 1977
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(Studio) 11 of OPEC (Organization of Petroleum Exporting Countries) ntns. raised oil prices 10% in January and were to increase that by 5% in July; Saudi Arabia and United Arab Emirates didn't agree. Now OPEC (Organization of Petroleum Exporting Countries) says 9 of 11 won't make July hike and Libya and Iraq expected to agree soon. Nothing is said with regard to Saudi Arabia and Emirates, but information is received in interview, in DC, with visiting Venezuelan President Carlos Andres Perez, 1 of architects of OPEC (Organization of Petroleum Exporting Countries) compromise. (Interview shown.) [PEREZ - notes there's not full agreement with regard to unity of cartel, but agreement reached with regard to this year's hikes. Believes Saudis will raise prices to equal 10% of others. Isn't authorized to say when Saudis and Emirates will announce incr., but can say it will be in next few weeks] Perez predicts oil prices will rise 200-300% in next 20 years; says he feels headway made with administration with regard to what Venezuela feels was injustice at being excluded, along with other OPEC (Organization of Petroleum Exporting Countries) ntns., from most favored-nation trade consideration after 1973 embargo. Venezuela never participated in embargo. [PEREZ - says it's a consideration of President Carter and of Senators and Representatives on foreign relations cmtes., with whom he's talked. Thinks this status may be reversed.] Reporter notes surprise visit to Perez over wkend. by Panama head of government Omar Torrijos; asks if there was message to be given Carter and, if so, what it is. [PEREZ - notes Canal Zone problem; hopes US understands need to solve it. Says canal should be as Panamanian as Mississippi R. is American Has talked to Carter and believes United States President understands problem; is asking United States people to help in solving problem.] Perez notes discussions with Carter with regard to giving United Nations and Organization of American States more power to enforce human rights, incl. support of proposal by Costa Rica with regard to United Nations high commission on issue.
REPORTER: Walter Cronkite

Cronkite, Walter

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