OIL MARKETS: PAST, PRESENT AND FUTURE
by Ahmad Zaki Yamani
(The following is the text of an address delivered by Shaikh Ahmad Zaki Yamani, Saudi Arabia's Minister of Petroleum and Mineral Resources, at a symposium at Harvard University during the university's 350th anniversary celebration.)
When crude oil prices started to rise during 1973-74, it caused a furor in the consuming countries. The increases were variously described as...shocking...as bound to precipitate...