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G—The Daily Collegian Friday, Feb. 16, 1979
Two OPEC nations
raise oil prices 7%
ABU DHABI, United Arab Emirates
( UPI) Abu Dhabi and Qatar raised oil
prices up to 7 percent yesterday, and
Iraq reportedly was considering even
greater hikes, heralding a general in
crease by OPEC nations as a result of
the crisis in Iran.
The 7 percent increase would be in
addition to the total 1979 price hikes of
14.5 percent set by the Organization of
Petroleum Exporting Countries.
Iraq's price increase plans were not
clear, but it appeared they would be far
in excess of 7 percent, possibly 75 per
cent or higher.
Qatar and Abu Dhabi produce only
about 6 percent of OPEC's oil, but
energy experts in Washington said they
expected their moves would trigger a
general price hike among other mehi
hers of the 13-nation cartel.
One U.S. official compared the
situation to the steel industry, where one
firm's price hike often is copied by all
others if the market shows it will take
"The increase is to compensate partly
for the huge differential between the
OPEC price and the free Market, where
oil prices are now between $6 and $7 a
barrel (higher)," the United Arab
Emirates news agency said.
Last week the Emirates' oil minister
charged Western companies were
"overcharging" during the Iran crisis
and said extra revenues generated by
tight market conditions should go to the
WASHINGTON (UPI) Groups on
opposing sides of the abortion issue held
what was described as a "productive
and amicable" meeting yesterday in an
effort to find a middle ground on the
issues dividing them. ,
The participants, representing about
30 groups, agreed to hold future
meetings and issued a statement calling
for "expanded reproduction education
by parents, schools, religious groups and
other community organizations."
The private meeting avoided direct
discussion of the abortion issue, con
centrating instead on areas that
promised hope of agreement. Included
was the need for additional research in
family planning and support for women
who want to bear children.
The meeting was' boycotted by some
groups on bcith sides of the abortion
issue, and the tentative oagreements
reached were thrown into doubt when
anti-abortionists interrupted the news
conference that followed.
Three young women representing anti
abortion groups stood behind the con
ference leaders to denounce the
meeting. They displayed the aborted
fetus of a baby girl.
However, the disruption was strongly
Truly Yours is temporarily
closed due to water damage.
We are very sorry for any incon-
venience this may have caused
for our regular customers, our new
customers, our perspective cus-
tomers. We will open as soon as
producer nations, not the international
The current OPEC price is $13.40 per
barrel, but prices as high as $24.50 per
barrel have been reported in some
recent spot transactions 83 percent
above the cartel's nominal price level.
The effect of Abu Dhabi and Qatar's
new price increases on U.S. gasoline
prices could not immediately be
calculated. Experts noted the "light
crude" that flows from Abu Dhabi's
wells is used to produce unleaded fuel.
Iraq's price-increase intentions were
reported by oil industry sources in
Tokyo, where representative's of the Iraq,
National Oil Co, reportedly suggested a,
complicated, thrCe-tier price system
that- would bring oil prices up to the
maximum now being chaiged ,in the
Iraq, which reportedly made its
proposal during a meeting with
Japanese officials on 1979 trade between
the two nations, said it would adhere to
the OPEC price schedule for the first 4.2
million tons of oil sold to Japan this year.
For everything between 4.2 million
and 5.07 million tons of oil shipped,
OPEC's highest price the Oct. 1 rate of
$14.54 per barrel, scheduled to take
effect Oct. 1 would prevail under the
For all oil sold beyond 5.07 million
tons, spot market prices significantly
higher than the OPEC rate at present
would be used, the Japanese sources
criticized by other anti-abortion groups.
"We are very much ashamed of any
tactics that tend to disrupt this mutual
respect we found together," said
Elizabeth Moore of Feminists for Life.
Eleanor Smeal, of the sponsoring
National Organization for Women, said
the five-hour meeting was "productive
Sean Downey, a leader of the effort• for
an anti-abortion amendment to the
Constitution, said participants had "a
great feeling that some ac
complishments could be made at future
But Downey earlier conferred with the
group that staged the protest and made
it clear his anti-abortion position was
Fay Wattleton, president of Planned
P.i•enthood Federation of America, said
the meeting was called "to avoid the
kind of polarization shown here:"
Dr. Mildred Jefferson, president of the
Right to Life Crusade, said the con
ference helped ' show both sides "we
don't have horns and tails."
Smeal said' another meeting was
planned for April 19 "to continue the
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MONDAY THRU FRIDAY
9 A.M. 9 P.M.
HOUSE Or nEsums
State College, Pennsylvania
0 is back!
Celebrate the return of lan's $6.00
SHAMPOO and HAIRCUT every
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Regularly a SZSO value. Drop in .
or call for a money-saving ap
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Be prepared for the great outdoors. Check the
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