1973
January 1973
Henry Kissinger and North Vietnamese representative Le Duc Tho meet in Paris to sign terms of “peace with honor”.
The war continues without direct U.S. military involvement.
____________________________________
William R. Clark, Petrodollar warfare, 2005 [ ]
p.21 (pdf - page 42/289)
In May 1973, with the dramatic fall of the dollar still vivid, a
group of 84 of the world's top financial and political insiders met
at Saltsjöbaden, Sweden, the seclude island resort of the Swedish
Wallenberg banking family. This gathering of [the] Bilderberg
group heard an American participant, Walter Levy, outline a ‘scenario’
for an imminent 400 percent increase in OPEC petroleum
revenues. The purpose of the secret Saltsjobaden meeting WAS NOT
TO PREVENT THE EXPECTED OIL PRICE SHOCK, BUT RATHER TO PLAN HOW TO MANAGE
THE ABOUT-TO-BE-CREATED FLOOD OF OIL DOLLARS, a process US Secretary
of State Kissinger later called ‘recycling the petrodollar flows.’
[emphasis added]
-- F. William Engdahl, A Century of War43
(Petrodollar warfare : oil, Iraq and the future of the dollar, William R. Clark, 2005, )
____________________________________
1975
April 30, 1975
The last Americans evacuate Saigon as North Vietnamese forces roll into the capital.
The war is finished. Nearly 30 years after Ho Chi Minh declares Vietnam's independence with the words of Thomas Jefferson, Vietnam is unified under a communist government.
____________________________________
Joseph E. Stiglitz, Globalization and its discontents revisited, 2018, 2002
pp.351-352
A group of thirteen economists, including four former chief economists of the World Bank (including me), put together what we called the Stockholm Consensus, laying out ten principles of development policy, which included the need to make development inclusive, to attend to inequality, to make development environmentally sustainable, and to get the right balance between the market, the state, and civil society.15
p.352
The new consensus emphasized too that one-size-fits-all policies don't work: there are large differences not only between developed and developing countries, but also among the developing countries, calling for nuanced and tailored policies.
p.444
15 The consensus was forged at Saltsjöbaden, Sweden, on September 16-17, 2016, at a meeting sponsored by the World Bank and the Swedish Aid Agency. See https://www.wider.unu.edu/news/stockholm-statement-%E2%80%93-towards-new-consensus-principles-policy-making-contemporary-world.
Joseph E. Stiglitz, Globalization and its discontents revisited, 2018, 2002
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Mihajlo Mesarovic and Eduard Pestel, Mankind at the turning point, 1974 [ ]
1973
p.178
(see Table III C-1).*
Table III C-1
Cost in U.S. Dollar
Technical
Energy source capital cost unit cost
Persian Gulf 100-300 0.10-0.20
Nigeria 600-800 0.40-0.60
Venezuela 700-1000 0.40-0.60
North Sea 2500-4000 0.90-2.00
Large deep-sea reservoirs over 3000? 2.00-?
New U.S. reservoirs (not too remote) 3000-4000 2.00-2.50
Easy part of Alberta tar sands 3000-5000 2.00-3.00
High-grade oil shales 3000-7000 3.00-4.50
Gas synthesized from coal 5000-8000 3.00-6.00
Liquid synthesized from coal 6000-8000 3.00-6.00
Liquid natural gas (landed) 6000-9000 3.00-6.00
* A. B. Looius, "Energy Resources," paper at the UN symposium on population, resources, and environment, Stockholm, 1973.
(Mankind at the turning point, Mihajlo Mesarovic and Eduard Pestel, The Second Report to The Club of Rome, 1974, p.178)
____________________________________
John Malcolm Blair, The control of oil (hardcover), 1976
p.vii
In October 1973─January 1974 a fourfold rise in the price of oil was unilaterally imposed by the Organization of Petroleum Exporting Countries.
In May 1973 at one of the annual private meeting of Bilderberg group in Saltsjobaden, Sweden, an American participant, Walter Levy outline a ‘scenario’ for an imminent 400 percent increase in OPEC petroleum revenues., p.21 (pdf - page 42/289), F. William Engdahl, A Century of War43
p.vii
Within a few months, however, all signs of shortage had disappeared, but the price remained at its new, stratospheric level. Equally puzzling was the dramatic increase in the oil companies' profits.
p.viii
In 1969 Professor Edith Penrose noted: “OPEC has twice attempted a ‘prorationing’ system under which an overall target was set for production and quotas were assigned to the participating countries. Both attempts failed.”2
p.viii
Obviously something new had been added both in the form of market control and in the manner in which it was being exercised. What was past may have continued as the foundation, but it was no longer the explanation for current developments.
p.viii
Statistical time series are few and far between, and even those that appear to relate to the same subject often differ in their definitions, with the result that they can neither be combined nor compared.
p.ix
On the demand side the essential difficulty is that the industry has grown to such a size that slight differences in predicted growth rates yield strikingly different forecasts of demand, conveying, in relation to anticipated supply, quite different implications for public policy.
p.ix
For example, raising the projected U.S. population for the year 2000 from 252 million to 285 million persons increases the expected gross energy consumption by 13 percent.
p.ix
In domestic oil monopoly power does not stem from a simple, highly concentrated, oligopolistic structure but rather from an amalgam of a moderately high level of concentration, an extraordinary maze of interlocking corporate relationships, an extreme degree of vertical integration, and governmental interventions to limit supply.
p.101, p.103
These “annual internal industry-wide supply-demand forecasts”3 are set forth in what are referred to as Exxon's “Green Books”, SoCal's “Blue Books”, Gulf's “Orange Books”, etc.4 Describing what “has come to be known within Exxon as the Green Book”, the company stated:
There is obviously considerable effort involved in preparing the projections and analyses that are documented in the Green Book. The primary purpose of this activity is to anticipate changes in the industry supply/demand environment that should be considered in developing Exxon's forward plans. Emphasis is placed on identifying and studying problems that might be expected to arise if current demand and supply trends continue, without necessarily attempting to forecast how these problems will be resolved.
... it is felt to be benefit to use one consistent set of assumptions regarding long-term industry developments in planning future investments in the many parts of the world in which we operate. In addition, the Green Books serve as data source for the analysis and development of policy positions on issues relating to the petroleum and energy industries.5
p.103
Exxon went on to say that it “has generally not made its Green Books publicly available.”6
pp.233-234
To the majors and the government alike, the reduction in Libyan output was the necessary prerequisite to the staggering price increases of late 1973 and early 1974. Had Libyan production by the independents and crude-long majors been running at the rate anticipated five years earlier by Exxon, the supply in 1973 would have been increase by some 1,500,000 b/d. Had it been necessary to find a market for such a quantity, the chances of making the 1973-74 price increases stick would have been exceedingly remote.
p.234
The Evisceration of the Libyan Independents
Whether anticipated or merely the product of fortuitous circumstances, the price increases of 1973-74 had as their necessary prelude the unnoted evisceration of a few independent oil companies operating in one of the world's most sparsely populated and little-known countries.
p.262
Promptly taking advantage of the opportunity, OPEC on October 16 announced an immediate increase of approximately 70 percent ── from $3.00 to $5.11.
Hardly had oil users adjusted to the October raise before they were hit with a second, even greater increase. At a meeting Tehran, OPEC announced a further raise, effective January 1, 1974, to $11.65. As can be seen from Chart 11-1, the price of the “marker grade”, Saudi Arabia light, had thus risen from its long-established level of $1.80 in late 1970 to $2.59 in early 1972, to $3.01 a year later, to $5.11 in October 1973, and then to $11.65 ── a sixfold increase in four years.
p.262
In general, the lighter the grade, the lower the sulphur content, and the less the freight required to equalize with other crudes at North European ports, the higher the price.3
p.262, p.264
As the chart also shows, the marker grade remained at $11.66 for nearly a year, dropping slightly to $11.25 in November 1974. But in October 1975, the OPEC members took their third unilateral action, raising prices by 10 percent, as a result of which the market grade rose to $12.38.
p.264
The leading proponent of the 1974 increase was, unexpectedly, the Shah of Iran, who had earlier been restored to power with the active aid of the C.I.A., had engineered the highest growth rate of any Mideast country,
(The Control of Oil., John Malcolm Blair 1914─, 1. petroleum industry and trade., 2. petroleum industry and trade──United States., 3. energy policy──United States., HD9560.6.B55, 338.2'7'282, 1976, )
____________________________________
https://www.google.com/search?q=pentagon+is+the+biggest+user+of+oil
The US military's energy consumption drives total US government energy consumption. The DOD is the single largest consumer of energy in the US, and in fact, the world's single largest institutional consumer of petroleum.Nov 13, 2021
Jun 22, 2019 — US military is world's single largest consumer of oil, and as a result, one of the world's top greenhouse gas emitters.
source:
https://energyindemand.com/2019/06/22/us-military-is-worlds-single-largest-consumer-of-oil-and-as-a-result-one-of-the-worlds-top-greenhouse-gas-emitters/
The Pentagon Is The Largest Consumer Of Oil In The World
According to a Energy Bulleting report from earlier this year, the Pentagon is the world's largest consumer of oil.
source:
https://www.groovygreen.com/the-pentagon-is-the-largest-consumer-of-oil-in-the-world/
https://www.textise.net/showText.aspx?strURL=https%253A//www.groovygreen.com/the-pentagon-is-the-largest-consumer-of-oil-in-the-world/
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