• Short Summary

    Members of the 24-nation Organisation for Economic Co-operation and Development met in Paris on Thursday (October 25) to discuss the growing threat of a world energy crisis, and to review the current oil supply situation.

  • Description

    Members of the 24-nation Organisation for Economic Co-operation and Development met in Paris on Thursday (October 25) to discuss the growing threat of a world energy crisis, and to review the current oil supply situation.

    Delegates at the meeting agreed that there was no oil supply crisis at present. "Nobody is taking any action", said one United States' official, "the meeting is precautionary to see if everybody sees the situation in the same way.

    However sources at the meeting reported that France and the United States were in disagreement over a proposal, favoured by the United States, to activate an advisory group of 15 Western oil companies. The advisory group would provide statistical information to the OECD and implement any oil-sharing scheme among member-nations in times of shortage.

    According to the sources, France opposed the proposal, on the ground that such a move would appear to the Arab oil producers as an attempt, by consumer nations, to organise against them.

    The Chairman of the meeting, held at the Chateau de la Muette, Mr. L.G. Wansink of the Netherlands, told newsmen that Thursday's session had been taken up by a survey of current oil supplies and prices. Asked if any decisions would be reached by the time the meeting ends on Friday (October 26), Mr. Wansink said he hoped so, but added, "I am not expecting anything because I am a pessimist by nature."
    SYNOPSIS: Members of the Organisation for Economic Co-operation and Development began a two-day conference in Paris on Thursday. Most of the world's major oil-consuming nations, members of the OECD, were meeting to look at the present oil situation. The day was marked by a disagreement between the United States and France. The United States had proposed that an advisory group, of Western oil companies, should begin work on establishing oil-sharing schemes for OECD members, in the event of an oil crisis.

    France objected to the proposal on the grounds that it might appear as if the OECD was organising itself against the Arab oil producers. According to sources at the meeting, oil had only been shared in the past when supplies had been cut by thirty per cent, and the present situation was nowhere near that mark.

    The Dutch Chairman of the meeting, Mr. L G. Wansink, said that Thursday's session had been taken up by a discussion of current oil prices and supplies. He hoped that some decisions would be reached by the end of the conference, although he expressed some pessimism.

  • Tags

  • Data

    Film ID:
    VLVA4Z1MYYZB23MX7BOXBR0MXS054
    Media URN:
    VLVA4Z1MYYZB23MX7BOXBR0MXS054
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    26/10/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:15:00
    Time in/Out:
    /
    Canister:
    N/A

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