EDITORIAL: The Arab use of oil as a weapon against the friends of Israelis no longer a threat. Latest in a series of concerted steps to sharpen the cutting edge of this newlyforged weapon is the announcement of the ten OAPEC members ... in Kuwait to impose a blanket 25 per cent reduction of petroleum production on their September output. ...
Oil being the industrial world`s most basic economic resource, the impact of the Arab measure will not take long in making itself felt. The chilling prospects are further accentuated by the approach of winter. Means of mechanical mobility, whether on the ground, on the high seas or in the air, will be affected.
... The cut-back in oil production ... is bound to affect the pace of economic activity in ...
industrial countries. The users of the weapon themselves will have to pay a price in terms of loss of revenue. ... Israeli obduracy rests on the support of powerful patrons who have hitherto been prepared to go to any limits to underwrite Zionist expansionism. It is little wonder that the Arabs have ... come to the conclusion that they cannot supply their oil any more to those ... determined to deny equity and justice to the Arabs.