The United States Wednesday (February 5) told its industrial partners that Secretary of State Henry Kissinger's new oil price strategy was the only way to achieve a strong bargaining position with the oil producers.
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Background: The United States Wednesday (February 5) told its industrial partners that Secretary of State Henry Kissinger's new oil price strategy was the only way to achieve a strong bargaining position with the oil producers.
That assessment came as the Governing Board of the International Energy Agency (IEA) began a three day conference in Paris amid signs that Dr. Kissinger's latest proposals could run into stiff opposition.
The IEA is a 16 nation consumer body set up to face the oil prices crisis.
It appears that some of the member nations fear that the American plan would lead to a confrontation with the oil producing countries....a development that Japan and some European countries most want to avoid.
Dr. Kissinger has suggested an oil floor price to encourage the industrial nations to invest in new energy sources without fears that oil producers would under cut them. The plan would also assure a long term price for producers.
The American delegate at the Paris discussions said acceptance of such a plan would not lead to a confrontation.