OPEC's Painful Squeeze: "There is no one on earth who will fail to suffer," says Carter.

FRANCE; JAPAN; CANADA

CARTER, Jimmy, 1924-; HELLER, Walter W., 1915-1987

The article focuses on the opposition of several heads of states and the impact of the decision and action of the Organization of Petroleum Exporting Countries (OPEC) to gradually increase of the world price of oil and of surcharges. It states that OPEC had increased the international price of oil and also increased the surcharge of cartel up to 1, 000% from the 1.80 dollars in early 1970s. It mentions that U.S. President Carter and the leaders of sic summit countries including Canada, France and Japan had released a communique stating the possibility of more inflation and less economic growth because of oil prices. Walter Heller of "Time" believes that because of oil prices, unemployment rate will increase about 7.5% or 8% in 1980.