Call to up oil prices

Press, 24 September 1988, Page 33

Call to up oil prices

NZPA-Reuter Mexico City Leaders of the oil-pro-ducing countries of Mexico and Norway yesterday called for higher world oil prices as part of efforts to bring sustained growth to developing countries. Speaking at a two-day conference on environment and development, the Mexican President, Mr Miguel de la Madrid, said current low crude prices deterred conservation and damaged producers’ economies. The Norwegian Prime Minister, Ms Gro Harlem Brundtland, said higher oil prices would lead to development of alternative sources of energy. “There is a strong need to stabilise oil prices at a reasonable and higher level,” she said. The two leaders spoke at the opening of a meeting at which Ms Brundtland will present the Spanish version of a World Commission on Environment and Development report entitled “Our Common Future.” Ms Brundtland, who heads the commission established by the United Nations in 1983, said current economic conditions had forced poor countries to strain their environments, which could bring disastrous consequences for the world.