THE MEMORY OF 1986

by Alirio A. Parra

(The following is the text of a paper delivered by Dr. Alirio Parra in Dallas, Texas, on 1 October 1987 at a conference organized by the Institute for the Study of Earth and Man, Southern Methodist University. Dr. Parra is a Board Member of the Venezuelan state oil company Petroleos de Venezuela and Managing Director of its London subsidiary.)

The memory of 1986 is still fresh in our minds. For oil producers in Texas and, indeed, for producers...