Action Quote by Richard M. Nixon
“... Member Countries shall take necessary action and/or shall establish negotiations, individually or in groups, with the oil companies with a view to adopting ways and means to offset any adverse effects on the per barrel real income of Member Countries resulting from the international monetary developments as of 15th August 1971.”
About This Quote
Source Treat: United Nations Conference on Trade and Development (UNCTAD) Report, 1971
Member nations should negotiate with oil firms to mitigate income loss from currency changes.
In simple terms: Countries should seek deals to protect oil revenue.
Key Takeaway
Negotiate protective agreements.
Themes
economics
energy
policy
negotiation
Mood
concerned
strategic
Type
policy
economic
When to use this quote
- government budgeting
- energy contracts
- international trade
- financial planning
Key Concepts
revenue protection
currency risk
oil markets
Questions to Reflect On
- How can countries ensure fair negotiations?
- What alternatives exist if talks fail?
A Different Perspective
Implementation may be hindered by oil company resistance.
