Within OPEC, however, we are very clear about the nature of our commitment, as it must be based on the principles of “common but differentiated responsibilities” and “respective competences. Developing countries, including members of our dear organization, are not responsible for the historic emissions that affect the world`s environment today. Their causes lie in the industrialized societies that emerged in Europe in the 18th century and which subsequently spread among the nations considered today as the richest nations in the world. In addition, developing countries are not technologically or financially able to adapt to adverse environmental effects. Indeed, policies taken by the major industrialised countries to combat climate change can easily have a negative impact on the economic well-being of our Member States. That is why we firmly believe that any post-Kyoto agreement must address these concerns appropriately and comprehensively in order to ensure a fair and balanced global approach to addressing these very serious problems. On 2 April 1971, the tripoli group`s negotiations resulted in a 90-cent increase in the price of OPEC oil in the Mediterranean, well beyond the Tehran agreement. The Tripoli group included Libya and Algeria, as well as Saudi Arabia and Iraq, as part of their production arrived in the Mediterranean by pipeline. The Shah was furious when he felt he had been jumped. Over time, it will be necessary to check whether such painful chords are maintained. (iii) Although integrated earnings in the eastern hemisphere have long been depressed, higher world prices and a significant increase in corporate profits or changes in the relative value of Western currencies, particularly the dollar, could lead to further pressure from producing countries to increase revenue per barrel. With the 1973 oil embargo, after the Yom Kippur War, which wreaked economic havoc, U.S. Secretary of State Henry Kissinger began “shuttle diplomacy” and helped withdraw between Israel and Egypt in January 1974.
Arab oil ministers agreed to end the embargo on March 18, 1974, on the condition that the United States also encouraged the Israeli-Syrian withdrawal. Kissinger helped reach an agreement between the two states in May, which involved a ceasefire and the withdrawal of Israeli forces from some of the conquered areas. The world`s major economies form the International Energy Agency to coordinate “in times of oil emergency.” They also met at a summit in France in 1975 to discuss the global economy and energy dependence. This state forum is called the Group of Six and will later become g8, then the G7. Inevitably, very large increases in prices and taxes were inevitably goals that other OPEC members had to not only aim for but emulate. What followed was a crescendo of demands, backed by threats to retain the production of companies that did not agree. In December 1970, Venezuela imposed an increase in the tax rate from 52 to 60%, and in March 1971, significant price increases were imposed. [i] Concession agreements and international agreements may depend on them as long as all parties are convinced that they serve their interests and that an infringement would be more prejudicial to their party than to the other. For example, a producing government will be less likely to make inappropriate demands to oil companies or threaten expropriation if the turbulence of a confrontation could threaten its regime; Safer governments may be less inhibited.
Even if an extraction country can only afford a relatively short interruption of its oil revenues, while consuming countries can survive an oil embargo for a longer period of time, the oil embargo is unlikely to be used as a weapon.