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Framework for Analysing the Implications
3Economic Issues for the Oilimporting Countries
4Qil Payments and Oil Debt and the Problem of Adjustment
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additional adjustment Agreement assets balance-of-payments Bank barrel borrowing capital cent chapter coal commodity consumer consumption cooperation crude oil current account deficit developing countries domestic effect electricity energy policy European Community exchange rates exchange-rate expected exports fixed exchange rates France Frank McFadzean fuel funds GATT governments growth higher oil prices implications imported oil importing countries inflation inflationary International Energy Agency international monetary investment Kuwait Libya London major ment North Sea North Sea oil nuclear OECD oil companies oil crisis oil price rise oil supplies oil-exporting oil-importing countries oil-producing countries OPEC countries Organisation output Peter Oppenheimer Petroleum Policy Research Centre political price of oil problem production programme real income reduced relative requirements reserves result revenue rise in oil shortage situation sources of energy spending surplus tariffs tion Trade Policy Research transfer unemployment United Kingdom Western Europe world economy