THE BATTALION
THURSDAY, FEBRUARY 10, 1977
Page 3
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Oil trade
less in 40’s
By DEBBIE PARSONS
Most people did not expect Saudi
Arabia to have as much oil as it was
discovered to have, Thomas C.
Barger said last night in his lecture
on “Middle East Views on the
Energy Situation.”
Barger said the lecture was de
signed to give people a background
on the Middle East and tell some
thing about the oil industry there.
Barger retired in 1969 after
spending 32 years in Saudi Arabia
with the oil company, Aramco.
The Middle East is composed of
those states adjoined to the Persian
Gulf, he said, including Saudi
Arabia, Oman, United Arab Emi
rates (U.A.E.), Iran, Iraq, Kuwait
and Qatar.
In 1908, oil was first discovered in
Iran. It was then discovered in Iraq
in 1927, Bahrain in 1932, and in
Kuwait and Saudi Arabia in 1938.
“The amount of oil in the gulf is
rather hard to appreciate,” Barger
said.
The oil reserves in the Persian
Gulf are approximately two-thirds of
those in the Free World, he said.
Production is 24 million barrels a
day, which is one-half to two-thirds
of the production in the Free
World.
“With all this oil it would seem
that finding it would be like shoot
ing fish in a barrel; this is not so, ” he
said.
During World War II, oil opera
tions stopped everywhere in the
Middle East except in Iraq and
Iran. Saudi Arabia did not have the
refineries needed to export crude
oil, so they had no trade in it.
“After World War II, the expan
sion in the oil industry was tremen
dous,” Barger said. He used
Aramco as an example, which went
from producing 13,000 barrels of oil
a day in 1943, to producing 150,000
barrels of oil a day by 1953.
“It was obviously a madhouse,”
he said, “trying to expand at this
rate.”
During this time, the oil com
panies’ profits increased drastically,
Barger said.
In Saudi Arabia, a “50-50 Agree
ment” was made that split the oil
profits between the oil companies
and the government.
In August 1960, some companies
posted a price that was 14 cents a
barrel less than the price the gov
ernment wanted. The government
protested the price, which led to
the formation of the Organization of
Petroleum Exporting Countries
(OPEC), Barger said.
OPEC is represented by people
from Saudi Arabia, Iraq, Iran,
Kuwait and Venezuela.
“OPEC has nothing to do with
politics or embargoes,” Barger said.
“It was founded solely for sustaining
the price of oil and raising it when it
could. I think it is a very good thing
for the Middle East.”
From 1960 to 1970 the price of
Arabian light crude oil was fixed at
$1.80 a barrel, but the market price
of oil had dropped, so there was not
a 50-50 agreement between the
government and the oil companies.
In February 1971, the Tehran
Agreement was made, which fixed
the prices and terms between com
panies and the government for five
years.
“1073 was the really big year,”
Barger said. “The world oil demand
rose to 2-% million barrels of oil a
day in nine months. Eighty per cent
of the 2-% million barrels came from
the countries around the Persian
Gulf.”
On Dec. 23, 1973, after the Arabs
placed an embargo on the U.S. and
the Caribbean Islands because the
U.S. said it would send help to the
Israelis in the war between Egypt
and Israel, OPEC met to decide on
a posted oil price.
“The real disaster of the embargo
was the effect it had on the price of
oil,” Barger said.
SENIORS & GRADUATE
1 STUDENTS
Your Yearbook Photos For The 1977
Aggieland Will Be Taken Through
Feb. 11 Only— Feb. 11 Is The Final
Day.
JuniorYearbook Photos Will BeTaken
x Beginning Feb. 14
i. . . university studio "“sxr"
Top of the News
Campus
DEGREE application dead
line is Friday, Feb. 11 for stu
dents expecting to graduate May
6 and 7. To apply, students first
pay an $8 diploma fee at the Fis
cal Office, in the Coke Building.
Undergraduates present the re
ceipt in Room 7. Graduate stu
dents complete application at the
Graduate College, 209 Coke
Building.
A PROFESSOR of chemistry
at A&M, Dr. F. Albert Cotton,
has received the Pauling Award
of the ACS Oregon and Puget
Sound Sections. Cotton is the
first chemist to earn the award.
The author or co-author of about
480 research publications. Cot
ton is a Robert A. Welch Distin
guished Professor of Chemistry.
DISTINGUISHED professor
and head of the chemistry de
partment at A&M, Dr. Arthur E.
Martell, has received the 1976
ACS Southwest Regional Award.
The award was presented at the
Southwest Regional Meeting in
Ft. Worth last month. Martell
came to A&M in 1966. Since
then, the chemistry faculty has
increased from 23 members to
60, graduate student enrollment
has doubled and the amount of
research funds has increased six
times.
Texas
A BURGLARY suspect,
Stephen Elroy Bownds, in jail in
Houston, was talked out of jump
ing from the ledge of the Harris
County Courts building yester
day when the sheriff offered him a
nickle. Bownds had escaped from
a rooftop recreational area and
made his way to the ledge. Sheriff
Jack Heard said Bownds would
probably be sent to the Rusk
State Hospital for mental exam
ination.
THE CHAIRMAN of the
Texas Medical Association Coun
cil on Medical Education and
Hospitals yesterday said the
shortage of family doctors will be
come worse unless the legislature
funds family practice residencies
in the state. Dr. William F. Ross
said there are insufficient
graduate training residency pro
grams to replace physicians leav
ing family practice.
National
MARC SALINGER, 28-year-
old son of Pierre Salinger, who
was press secretary to Presidents
Kennedy and Johnson, was killed
yesterday when he jumped from
San Francisco’s Golden Gate
Bridge. Salinger, a student at San
Francisco State University, was
the third person to jump from the
bridge in the last two days. Since
the bridge was built 40 years ago,
591 persons are known to have
committed suicide by jumping
from it.
PRESIDENT Carter yester
day met with members of Con
gress from states bordering
Mexico to discuss various border
problems. Among the problems
are gun and drug traffic control,
economic development areas, il
legal alien control, and water dis
putes. Carter also discussed the
value of the peso and efforts to
stop “anti-government terrorist
groups” from dealing in arms traf
fic. Several members of Congress
favored a return to the Bracero
Program, under which Mexican
nationals came to the U.S. legally
to work.
AMERICANS watched more
television in January 1977 than in
any other month. The A.C.
Nielsen Co. said the average
American family watched televi
sion for seven hours and 16 min
utes per day during January. An
average of 30 per cent of the tele
vision sets in use were tuned in
on a 24-hour basis.
PSYCHIATRIST Dr. John
Cody testified yesterday that
Francis Donald Nemechek was
insane at the time he killed four
women and left a 3-year-old boy
to die of exposure. Dr. Cody, di
rector of the High Plains Mental
Health Center at Hays, Kan.,
said Nemechek had an emotional
loss of contact with reality at the
time of the killings. Nemechek
has pleaded innocent by reason of
insanity to five counts of first-
degree murder.
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DOWNTOWN
BRYAN
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