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University Daily Kansan
Wednesdav, February 13.197
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Time Is Crucial in Battle for Oil Sufficiency
'PLAYBAY OF THE WESTERN WORLD', a 1907 essay by Irish playwright John Millington Syngge, opens at 8 ontrugh in the University of Kansas Theatre. The play, set in a dreary coastal village in western Ireland, is a satire of the Irish countrytown's inclinations toward escapist fantasy and emotionalism.
THE SUA DUPLICATE BRIDGE meets at 7 tonight in the Curry Room in the Kansas Union.
By WILLIAM L. RYAN Associated Press Reporter
U. S. proposals for consumer-national cooperation, exploration for new energy sources, new technologies, prospective American self-sufficiency by 1980 and so on, over time, but there is reason to worry about what they will do in interim in the highly volatile Middle East.
Much of what is proposed to meet the worldwide oil crisis will take a lot of time, and time is a scarer commodity than oil. And there are other risks for a new round of desperate instability.
Generalized statements of common purpose in today's situation can sound like tribal rites and incantation, because even as the consumer nations participate cautiously sponsored conferences, the oil produces area is developing a new set of tensions.
WASHINGTON (AP)--The Federal Energy Office is considering beating Congress to the punch by rolling back the price of domestic crude oil, which is now exempt from price controls, sources said this week.
It would be achieved by setting an administrative price ceiling on control-free domestic crude, probably at 50 per cent and then the controlled price of $2.25 a barrel.
The rollback proposal is a real possibility although no final decision has been made,
Simon Ponders Move To Roll Back Oil Prices
EVEN IF THE ROLLBACK is ordered, it would have a minimal impact on the price of gasoline—one or two cents at the most, the sources said.
But the move would cut into oil company profits as well as quiet some of the criticism
that domestic oil prices have moved too high and too quickly, according to the
Congress is considering legislation that would roll back the price of uncontrolled crude oil.
THE ADMINISTRATION'S PROPOSAL,
which is now under high-level discussion,
would set the new control price at $7.87,
if the 50 per cent rule is adopted.
Energy chief William E. Simon told Congress recently that the administration agreed that crude oil prices should be partially rolled back. But Simon said he want to go as far as the congressional proposal, which is part of the emergency energy bill.
Arab Iran hasqed territorial claims against Arab Kuwait and only a couple of years ago attempted an invasion, which was met with brutal repression. The British presence is gone from the Persian Gulf, there is a jawning and potentially perilous vacuum there. Hereditary anti-Communist rulers of the Saudia region are the targets of the attacks of an Iraqi heavily armed by the Soviet Union.
—TWO PRODUCER nations now fattening on high prices, Arab Iraq and non-Arab Iran, have been trading military blows in a revived border dispute.
Uncontrolled domestic crude oil prices range from $5.60 to $10 a barrel, although
- Libya's strong man president, Moammar Khadifa, is infuriated by Sadat. Khadifa has been clamoring for revolutionary risings of the "musses" against rulers of Egypt, Tunisia and anywhere else where they may be deemed impeding Arab unity. He tamed a oil tariff against the United States to coincide with the meeting and to preclude a planned meeting of Arab producer nations this week.
nation's economy, has been collaborating with both Washington and Moscow in seeking some sort of area stability. He has also called for rulers to relax their anti-U.S. embargo.
Syria's leaders drag their feet, resting Egyptian pressure for military disengagement with Israel. The Syrian regime has reason to worry about adverse political impact at home. Neighbor Iran is likely to be the target because the Iranian accepted the cease-fire.
—The hereditary rulers of Saudi Arabia and the sheikdoms in the east have no insurance they will be spared Khadidy's pAN Arab wrab should they show any signs of listening to proposals to ease the oil embargo.
All this boiling ferment takes place in an area where countries not much remove liquids from food.
MEDITATION
Instead of disengagement, there has been new fighting on the Syrian front.
TRANSCENDENTAL
LECTURE: WED., FEB. 13/7:30 P.M.
- EGYPT'S PRESIDENT Anwar Sadat,
evidently anxious to turn his attention to his
BIG 8 ROOM, STUDENT UNION Sponsored by Students International Meditation Society (SIMS)
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Maybe some of the proposed measures will work. Maybe short-range as well as long-term cooperation is possible. In any event, viewing Middle East developments, the industrial nation's leaders will have their fingers crossed.
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and Japan rely almost wholly on the Middle East to fuel their economies. It should be no surprise if they are painfully cautious about annoying oil rulers. France, in fact, seems to balk at the whole idea of concerted action.
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THURSDAY
MEANWHILE, ADVANCED NATIONS run up enormous trade deficits. Industrialized economies haven't had time to adjust to the sudden jolt of the oil price rise. The international monetary system may be subjected to severe strains.
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Such a situation, with all it can imply for relations among the superpowers, would seem to require determined unified effort by industrialized nations. But Western Europe
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