VOL. XXXV

NO. 1

7-OCTOBER-1991

OPEC

OPEC's President Armas Criticizes European Energy Tax

OPEC President Dr. Celestino Armas, Venezuela's Minister of Energy and Mines,criticized the European Commission's proposed energy tax on 1 October, sayingthat it would lead to "a drastic fall in demand and a reduction in revenuesfor oil exporting nations." If adopted, the EC `environment tax' wouldincrease the price of oil by $10/B by the end of the decade as part of an effortto reduce the amount of...