The latest rise in the price of crude oil is likely to cost ' the Western nations an extra $30 billion this year, and $40 billion next year. The Organization of Oil — Producing and Exporting OPEC sets top price at $23. 50a barrel of a week ago, and OPEC, has agreed to meet again in three months to .review the The other ten nations in “Thursday, - a two tiered system of price hikes which | means most crude oil will cost $23.50 a barrel starting today. . . This is a fifteen per cent ' increase over the going price - Tokyo ‘hotel nearly torched | CANADA'S CLARK Leaders wrestle lo ‘with energy | ~ The leaders of seven Western industrial nations. have failed in their first full day of talks to come up with an agreement on how to save energy. The leaders of Canada, the ULS., Japan, Britain, West Germany, Italy and France, met in Tokyo on Thursday and Friday, for , prices will: move talks which centered on the towards world levels. problem of energy. Hnatyshyn says he agrees Thursday, U.S, President that Canada must keep Jimmy Carter offered tolimit ™oVing towards the world: the amount of oil the U.S. is price but says the move Ke ; fe sx cancot he mad¢.tog fast or ras fr Ste me ww coy witrsinter cope. ~barrels.a aday - There were still major differences jn opinion ~ among the leaders after the first day, however. Canadian officials found themselves in a_ position ‘more compatible with the U.S. and Japan rather than the European nations. During the closed sessions, Prime Minister Joc Clark stressed several times that goals set at the summit must be achievable, and must reflect the = cir- cumstances of each nation. Canada faces a short term decline in domestic oil production in the period from 1980 to 1985, with things getting better after that. , nil Ta “Wecent™ onthe” the “T ‘OPEC. have a gentleman's. agreement not to sell oil for ' ned ee Te t feb maripeihede arene A RED NO ARAL ILO DELI LE LENG , And Saudi Arabia said it is up to. the. Western world to determine for how long the new’ prices. will remain in effect, even though there is disagreement | among OPEC nations themselves as -to how long the $23. 50 a situation. more than $23.50 a barrel, ; even‘ if they .are offered... ow ee More, .until OPEC meets The price rise was two again. - Bs tiered so as to allow Saudi Arabia and two other OPEC ce-hike-is ted nations to sell their oil at $18 The pri i dollars a barrel. |. . to cost the U.S. an extra $10 c .* billion i in 1980. Saudi Arabia said it was. unnecessary to raise the price over $20 a barrel, and 78 .OPEC blamed their price rise on the thirst for energy so a compromise had to be by the major industrial reached. | States. Japanese radicals ceiling of an unoccupied Thursday, tried to set fire to the hotel where Joe Clark, Margaret Thatcher, Helmut Schmitt, and; the Italian - prime minister were staying eighteenth floor room. The device had birned itself out after triggering smoke while - attending the. buildin alarms in the economic summit meeting. _ g- Police found an automatic | Police éstimate about 3500 ‘ignition device planted in the people demonstrated-against ? Clark said Canada wouldn't accept a reduction in the’ growth of imports during that period unless it was made clear Canada would be able to drop the restraints if they. were found to be injuring the Canadian economy. ‘ He said Canada must now decide the speed with which its oil Canadian price of oil has fallen behind the world price, with oil costing $13.75 a barrel in Canada, after a $1 ’ a barrel increase July {. om ye a ~ od ae? e Ae Pee VR VAR AD Wien ‘* a wen ee Mary, cw nee? CL? se Another $1 increase is scheduled for January 1, but Finance Minister John Crosby says future increases should be more than $1 a barrel. rs > ost oF tere eert ancee There is geancral agreement Canadian prices should stay slightly below U.S. prices in order to make sure Canadian = industry remains competitive. Hnatyshyn says the rising price of oil should encourage exploration in Canada, and should make the oil sands and heavy oil mdre com- petitive. : ' billion this year, and $14 : Tokyo. ‘economic condition on the barrel_price—will firm ceiling. . ‘Saudt-~ ‘Arabia said Thursday, | that the West is going to have to reduce oil consumption by two million barrels a day immediately, and by: four million. barrels a a day by next year. the summit, . Thursday, in several meetings throughout _ The leader of one of the groups says the summit is.an . imperialist. plot to impose responsibility for the world people instead of govern- ments. f 4 7 . Pe . BRITAIN'S THATCHER - -biggest unions in the U.S. the: -oil, cartel to ‘court. ~ International Association. of ‘Machinists, - effect the U.S. market, you have to be subject to U.S. ‘oil producer or shipper; then the U.S. courts can take ; jurisdiction. A ‘lawyer for one of + the says the OPEC :oil price . increases break U.S. laws,. . Davis. says if he is suc-. -cessful-in- getting~-an--in=""" ~~ junction against OPEC, and- - if the judge finds it illegal for ct hr and so he has taken the: Arab ; In Los Angeles, Attorney” increases they voted. in ~ Geneva, ‘then OPEC would be unable to charge on the U.S. market, what they set. _out to charge. has. charged. OPEC with price fixing and violation of U.S. anti-trust laws.. Davis says the American Federal judge, Andrew- court. says if you intend to Haup, who is hearing the case, has delayed any reliminary hearing - until: laws, and on that ground he later this month. says the anti-trust laws apply ; to OPEC. Davis says he feels — a something. must happen ‘Davis has taken soon, and that a con- - justification with a special frontationi is coming. statute passed in 1977 which says if a country doesn’t act as a country but as a commercial entity such as an ‘So far OPEC has refused, to even respond to the law “suit. GERMANY'S SCHMIDT. 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