Egypt has accused the major Western powers of being responsible for 'what is not quite accurately called the energy crisis'.
Egypt has accused the major Western powers of being responsible for 'what is not quite accurately called the energy crisis'. Petroleum Minister Ahmed Ezzeldin Hilal told the Sixth Special Session of the United Nations General Assembly in New York on Friday (19 April) that these powers have had virtual control over the international oil market. They also had more than ninety per cent of the world's known reserves of alternative energy sources such as coal, shale, tar sands and natural gas, he said.
Developed countries took it for granted they should have a balance of payments surplus -- but when some developing countries began to have surpluses this was regarded as a world catastrophe, he added.
Speaking in the same debate, Indian External Affairs Minister Swaran Singh accused developed nations of putting enormous increases on the cost of essential imports for developing nations -- using the oil situation as an excuse. He found it difficult to appreciate the justification for the 'enormous increases', he said, Such a transfer 'from the poor to the rich' was not compatible with the economic order developed and developing nations had been trying to reach together for so many years.