Page 2, The Herald, Friday, October 5, 1979

Economic leaders see hard times

BELGRADE (Reuter) —
After three days of gloomy
speeches about the state of,

e international H egonomy,

eaders en
thelr conference today
a that hard times
‘continue if inflation is io Ne
beaten.

The industrial countries
have hammered home the
point at the annual meetings

the World Bank and In-
ternational Monetary Fund

| world financial |

i as > ee ee ll

—

being neld for the flrat ime
In Eastern Europe.

Leading IMF officlals say
that Inflation has become so
embedded in people's daily
lives that it is automatically
planned for in wage
demands and price policies
and this must stop.

The message js expected
to be repeated in concluding
remarks today.

The developing countries

WHE OW ME
You

OUT ON

have described
situation as increasin ugly
desperate and have ca
for economic expansion to
provide markets for thelr ex-
porta,

They also have asked for
vast financial ald from the
industrialized countries.

But sources say th
accepted reluctantly i Artes
Induatelal powers must

ee ee

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1 eel i

beat inflation,
U.S. Treasury ‘Secretary

their elevate restraint pollcles to William | Miller noted on

Wednesd ay the national
accord between President

Canada seen
as reluctant

By AL COLLETTI

NEW YORK (CP)
Mitchell Sharp says the U.S.
should drop any ideas it
might have about a North
American energy common
market.

"It's a non-starter with the
Canadian people,” Sharp
told an ene symposium
aponsored by the Conference
Board

4s commissioner of the
Northern Pipeline Agency,
Sharp was in New York on
Thursday to give a briefing
on the status of the proposed
8,800 kilometre ot High-
way gas pipeline projec

It ould bring Alaskan
natural gas from Prudhoe
Bay and irom the Mackenzie
Delta in the Northwest
Territories to southern
marketa in both countries.

The building of this
system, the largest private
civil project ever un-

rtaken, was to begin with
construction on the Alaskan

portion as ‘ear y as next
canuary and ready to go Into
operation by January, 1683.
But the beginning of

operations has been set hack

to November, 1964, a delay of
nearly two years.

sharp sald in an Interview
that suggestions of a joint
continental energy policy
upset Canadians who
remember the Richard
Nixon years in the White

House.
"Jt produces an adverse
comment, right away,"’

a aera why I think it’s far
better for Americans to talk
about co-operation on par-
tleular things and then
Canadiana could elt down
and talk about th

“If you Bay, we rd like to

have a common market,’ .

Canadians say, ‘what does
that mean?’

"You mean you would
have access to all of our
energy and we would not
have the right to withhold it
for ourselves’? to hell with
that. il

Sharp said he remembers
well the time he waa external
affairs minister In the early

19708 when Nixon imposed
import quotas on Canadian
crude oli, reducing the daily
export to slightly more than
300,000 barrels from 600,000,

Nixon apparently was

trying to protect the U.S.
domestic crude oil Indus
from much cheaper Middle.
East oll that was beginning
to flood the U.S. ota.

The higher prices for
domestic crude cost U.S,
consumera an estimated §5
billion extra a year they
would have saved if im
controls were not in effect,

Sharp recalled ~ that
Canada had t diffleulty
in maintaining an open
border for what “we thought -
was unlimited supplies of
petroleum."

‘There was preasure at the
time in Canada for'a com-
mon energy market because
some Canadians thought
they could get in under
um ig of {merican

Pi 1: Green Gr arent Was =  Canada’e

and ary nae ea in sharp a

exchanges with the Nixon
a ation.
He asserted that
Canadians never would
negotlate anything ‘with a
gun at the head,”

During the contrav
Nixon assistant admit!
administration was to
force Canada to joln a
continental energy
agreement, claiming that
national security of the U.S.
required such an agreement
to ensure the source ‘of
supply. -

Now the situation has been
rev

With the U.S. relatively
short of energy, some
leading Americans have
raised the possibilities of
tapping Canadian energy
and settling up a common
market to ensure ¢asy &c-
cess to Canadian supplies.

Sharp aaid Canadians still
would prefer to deal with
issues one by one.

POPULATION GROWS
Scientists estimate that
world population grows .by .
200,000 people each day.

the

- thelr f

THREE

Carter -and U.S. trade
unions. He sald this
reca t the discipline

ed to halt inflation will
mean a period of national
austerity.

Millér returned home
Friday, fuelling tion
here hat the United States
might soon announce new
measures io prop up its

ne af ee Arabia has warned

stable, *

try = ‘The developing countries

haye also called for grea’

currency stabili oenat
thelr export earings from

‘raw materials will not ba hit

fluctuations in the value
money.

Rebels
consider
proposal

LONDON (Reuter) —
British for a new

constitution in Zimbabwe:
are being studied

‘ by the rebel colony's biracial

jovernment. — but without
Fe

ip from its white leader, --

Jan Smith, who is making a
surprise weekend trip to

bury,
A Salisbury delegation
official would not comment
Friday on a report that the
former prime minister is
going home to reassure
whites that they are not
belng abandoned in the
London constitutional talks.

Smith could not be reached
Immediately for commeat on
the reasons for his depar-
ture. He has-been strenuous
in conference sesslons
sup! g the case
Zipbalvwe Rhocdesia’s white

minority of 330,000.

His visit to Ballsbury
makes it seera unlikely be

a ‘a key. plenary

ation an Mendes: Bsbeyt4
Rhodesian delegation and
the Patriotic Front guer
rillas of Robert Mugabe and
Joahua Nkoma give their
final decision on the new

Brite PE
Foreign Se Lord
Carrington has that
orosats ‘rafecting the
pro r the onus
of the talks, now in
week,

featuring the musical talents of
Salmond & Mulder
and the Bowker Bros.

Terrace >

WORLD BRIEFS

BEIRUT (AP) -~_Jesse

“Jackson flew to the United

irut at

‘s abel Middle East t PPLO

had lan, declaring the mora

initiative” by announc ind a

unilateral ceasefire. in
southern Lebanon,

Jt was not clear, however,
if the truce would halt crass-
border raids on setae! or
terror bombings inside the
Jewish state.

~ moral initiative,”’

Before leaving Beirut,
Jackson held a third meeting
with PLO chief Yasser
Arafat and at a news con-
ference applauded - the
Palesinine Liberation Or-
ganization announcement of
a ceasefire in southern
Lebanon.

“The PLO has selzed the
Bald
Jackson. “America must
talk (to the PLO). America
must act to assure that the
territorial integrity of
Lebanon is respected ,,.’’

Leftists retake town

SAN SALVADOR (AP) —
Several hundred leftiats
have reoccupled the
metropolitan cathedral and

say they will stay in- .

definitely In the church
where the steps were littered
oaly five monte ago with ¢ he
corpses of supporters shot by
President Carlos Humberto
Romero's troops.

A spokesman for the
Popular Revolutionary Bloc,

El Salvador’s moat active
politica) action group, said
the: demonstrators are

otesting the shooting
eeaths of four bloc leaders
last weekend.

The reoccupation occurred
Thuraday afternoon at the
close of the funeral march
for the bloc leaders. The
march by up to 7,000 persons
was peaceful, although
witnesses said many of
marchers carried

New loan scheme unfolds

BELGRADE (Reuter) —
Proposals for increased
lending toe developing
countries in financial trouble
were announced today by
World Bank President
Robert McNamara.

He said the Idea Is to help
those developing countries
willing to make changes in
thelr economies to solve
their own financial

problems.

The proposals will be
recommende' ed to govern-
ments by finance ministers
and central bankers who
have been attending the

annual meetings of
World Bank and .

mations M4
closing seasion that the
severe problems of the Third

World call for new policies
and additional resources
“and we have considered
what action the bank might
take to help alleviate’ the
situation.”

The World Bank proposes

“to Increase lending to help

countries In severe balance
of payments’ difficulties to
minimize the effects on thet
development programs, he

Bomb explodes i in bazaar

TEHRAN (Reuter) — A
tlme bomb blasted the
bazaar of the southern
aio pe

one person and in
85, state radio said.

The radio aald the bomb
was of the came type that
exploded aboard a passenger
train outside Khorramshahr
two days nao, killing eight

NIGHTS

7:30 at the R.E.M. Lee Theatre

TOPICS THIS WEEKEND

Fri. Oct. 5 The Best Excuses Not To Be A Christian
another special youth night

Sat. Oct. 6 Why I’m Convinced Christianity Is True
Sun. Oct. 7 The Promise Of Eternal Life

Watch the Terry Winter TV Show.
B.C.'s top rated religious program Sundays at 1 PM channel 4

The blast came this

orning at the h
weekend snogpind. eight of

Security ‘forces were
immediately dispatched to
key areas of the town, which
was the centre of fighting
earlier this year between
autonomy-seeking Arabs
and Persian militla,