the mid-1980s or early 1990s, "when the specter of imminent oil shortages begins to haunt the world," pressures for major advances in the real price of oil can only grow.
It is essential, Levy argues, that the oil-exporting and oil-importing countries work constructively together to help the OPEC nations use their oil revenues wisely and to maintain a pricing system that will not endanger the non-communist world's economic and political system. "We cannot much longer afford a situation...