OPEC and the dollar dilemma

Journal Article · Sat Jul 01 04:00:00 EDT 1978 · Foreign Aff.; (United States)

DOI:https://doi.org/10.2307/20039989· OSTI ID:6702410

Amuzegar, J

New instability in the international monetary system has developed since the dollar's depreciation began raising concerns that the Organization of Petroleum Exporting Countries (OPEC) will turn to a currency with a better exchange value. OPEC losses between December 1976 and April 1978 are calculated for trade depreciation and loss of buying power. The options available to OPEC to counteract this situation are examined, and remedies are suggested for enhancing confidence in the U.S. dollar through free trade activities and intervention policies. The major industrial countries are advised to coordinate their policies to allow noninflationary growth in a free market and to form an accommodative agreement with OPEC that will protect both oil revenues and the dollar.

• OSTI ID: 6702410
• Journal Information: Foreign Aff.; (United States), Journal Name: Foreign Aff.; (United States) Vol. 56:4; ISSN FRNAA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
AGREEMENTS
CHARGES
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC IMPACT
ECONOMIC POLICY
ECONOMICS
ENERGY SOURCES
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
GOVERNMENT POLICIES
IMPORTS
INCOME
INTERNATIONAL AGREEMENTS
INTERNATIONAL COOPERATION
INTERNATIONAL ORGANIZATIONS
MARKET
OIL-IMPORTING COUNTRIES
OPEC
PETROLEUM
TRADE