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OPEC Conference #58661

ABC Evening News for Tuesday, Mar 27, 1979
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(Studio) Report introduced
REPORTER: Frank Reynolds

(Studio) Divisiveness among OPEC (Organization of Petroleum Exporting Countries) members noted; minimum price increase, said to begin next Sunday
REPORTER: Peter Jennings

(Geneva, Switzerland) Lack of agreement after 2 days of mtgs. noted to result in individual cntrys. setting crude oil prices on own. Films shown. Decision said reflective of Saudi Arabia's refusal to accept basic increases OPEC (Organization of Petroleum Exporting Countries) accusations against oil companies with regard to windfall profit during current oil shortage cited. [Qatar oil minister Khalifa Alabama-THANI - comments.] Price increase range said dependent on country in question; Saudi Arabia, Nigeria, Venezuela increases compared. Possible reaction against OPEC (Organization of Petroleum Exporting Countries) due to price increases noted.
REPORTER: John Laurence

(New York City) Incr. in gasoline, home heating oil, jet fuel, diesel fuel, residual oil and other petroleum-related prods. stated, figs. shown. Cost of living increase due to oil price increases noted.
REPORTER: Dan Cordtz

(DC) Admin. reaction to OPEC (Organization of Petroleum Exporting Countries) decision cited; Senator Henry Jackson quoted. [JACKSON - calls it greedy and punitive.] Admin. sense of helplessness in face of OPEC (Organization of Petroleum Exporting Countries) cartel and President Carter's postponement of decisions re: long-range conservation measures stated. Press Secretary Jody Powell quoted with regard to Carter meeting with James Schlesinger concerning OPEC (Organization of Petroleum Exporting Countries) conference Possibility of Carter decision next week mentioned.
REPORTER: Sam Donaldson

Cordtz, Dan;
Donaldson, Sam;
Jennings, Peter;
Laurence, John;
Reynolds, Frank

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