International records / Foreign Relations of the United States

13. Telegram From the Department of State to Secretary of State Kissinger in Islamabad

nference he talked vaguely of some form of price indexation whereby the prices producers paid for technology, industrial products and food would be related to the price they receive for oil. He distinguished those producer countries such as Iran and Nigeria that would use their oil revenues to industrialize their countries from those producers who want primarily to maintain the value of their money over the next 10–15 years. He also acknowledged that the present price of oil is perhaps too high and therefore not an acceptable base level for such a system. 3. When I noted our concern at the ann…