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Monitor's Ellis reports US will take conciliatory course at
2/11 conf., "bowing to the inevitable. 11 It'll suggest a comm. be
formed to discuss oil-pricing w/OPEC. US hope is gone that con-
sumers would confront producers w/price ceiling above which they
would not pay. Ellis also notes Faisal refused to give RN a unilateral
pledge embargo would be lifted soon, something RN sought as "a
dramatic denouement" to include in SOTU. Kup says insiders re-
port HAK inadvertently misled RN re: SOTU embargo remarks.
Others say RN merely exaggerated HAK's info
RN's SOTU
statement on embargo was "badly mixed up, 11 said Geo. Ball on
Today. It's not an "emergency meeting, " and it's "unfortunate" it
was announced because Arab reaction was they were being "taken
for granted. 11 Those opposed to embargo lift feel there's not been
enough action re: M-E settlement to warrant a lifting.
Ball declined to agree w/NBC's Newman suggestion RN was given
"misinformation, " but attributed statement to RN's "anxiety" to
have some "good news. 11 It was "premature" and a "misstatement,"
he said.
Just back from Saudi and Kuwait, Ball also said: It's "clear"
Arabs won't restore production to levels pre-war. Syria says why
should US get supplies til it does as much for Syria re: disengage-
ment as it did for Egypt; It'd be "foolish" for US to retaliate, as
it'd be ineffective and perhaps drive Arabs closer to USSR; US has
to face fact prices will be higher and there's little that can be
done to bring about a rollback; Arabs are unlikely to invest heavily
in US in near future because they're concentrating on improving
their own states, but such investment is "ultimately likely;" and,
money piling up in Arab countries can lead to major dislocations
and consequences for both industrialized and less-developed nations.
Ball denied he was "pessimistic, " but rather "realistic" and pre-
dicted there'd be no ultimate M-E settlement for several more
years.
In a positive commentary, Bus Wk says Admin hopes it has
done much to avoid monetary dislocation stemming from embargo
and soaring prices by scrapping investment controls. "WH has
made a dramatic bid to keep competitive exchange rate dollar has
gained
and in such a way that fabric of monetary cooperation
doesn't come completely unraveled. 11 If it works, "world has been
spared what could've turned into a devastating monetary and trade
war. 11 And reaction world-wide is generally that "if they were ever
going to remove controls, they couldn't have picked a better time. 11
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"ocrText": "3\nMonitor's Ellis reports US will take conciliatory course at\n2/11 conf., \"bowing to the inevitable. 11 It'll suggest a comm. be\nformed to discuss oil-pricing w/OPEC. US hope is gone that con-\nsumers would confront producers w/price ceiling above which they\nwould not pay. Ellis also notes Faisal refused to give RN a unilateral\npledge embargo would be lifted soon, something RN sought as \"a\ndramatic denouement\" to include in SOTU. Kup says insiders re-\nport HAK inadvertently misled RN re: SOTU embargo remarks.\nOthers say RN merely exaggerated HAK's info\nRN's SOTU\nstatement on embargo was \"badly mixed up, 11 said Geo. Ball on\nToday. It's not an \"emergency meeting, \" and it's \"unfortunate\" it\nwas announced because Arab reaction was they were being \"taken\nfor granted. 11 Those opposed to embargo lift feel there's not been\nenough action re: M-E settlement to warrant a lifting.\nBall declined to agree w/NBC's Newman suggestion RN was given\n\"misinformation, \" but attributed statement to RN's \"anxiety\" to\nhave some \"good news. 11 It was \"premature\" and a \"misstatement,\"\nhe said.\nJust back from Saudi and Kuwait, Ball also said: It's \"clear\"\nArabs won't restore production to levels pre-war. Syria says why\nshould US get supplies til it does as much for Syria re: disengage-\nment as it did for Egypt; It'd be \"foolish\" for US to retaliate, as\nit'd be ineffective and perhaps drive Arabs closer to USSR; US has\nto face fact prices will be higher and there's little that can be\ndone to bring about a rollback; Arabs are unlikely to invest heavily\nin US in near future because they're concentrating on improving\ntheir own states, but such investment is \"ultimately likely;\" and,\nmoney piling up in Arab countries can lead to major dislocations\nand consequences for both industrialized and less-developed nations.\nBall denied he was \"pessimistic, \" but rather \"realistic\" and pre-\ndicted there'd be no ultimate M-E settlement for several more\nyears.\nIn a positive commentary, Bus Wk says Admin hopes it has\ndone much to avoid monetary dislocation stemming from embargo\nand soaring prices by scrapping investment controls. \"WH has\nmade a dramatic bid to keep competitive exchange rate dollar has\ngained\nand in such a way that fabric of monetary cooperation\ndoesn't come completely unraveled. 11 If it works, \"world has been\nspared what could've turned into a devastating monetary and trade\nwar. 11 And reaction world-wide is generally that \"if they were ever\ngoing to remove controls, they couldn't have picked a better time. 11"
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