Prospect gloomy, says P.M.

Press, 18 June 1979, Page 1

Prospect gloomy, says P.M.

The energy situation internationally was as bad as it was in 1974 and “probably even worse,” said the Prime Minister (Mr Muldoon) yesterday afternoon on his arrival from Sydney after a 10day round-the-world trip. At a brief press conference before returning to Wellington aboard an R.N.Z.A.F. Andover, Mr Muldoon recounted the highlights of his trip and predicted that in the next 12 months energy would be the world’s main problem. He termed the situation “dangerous.” Oil prices, he said, could be expected to double this year. Al! oil-consuming countries, including New Zealand, he said, would have to reduce consumption. T o p-level international decisions would have ta be made regarding oil allocations, especially to Third World countries, and restrictions would have to be imposed on countries paying high spat-prices for oil. Asked what he thought about cuts in broadcasting services, Mr Muldoon said: “All that is required in broadcasting is initiative and the selling of more advertising. Given that, there will be no need for any further cuts.”