ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Oil and All That

Oil and All That Romesh Thapar NINETEEN seventy-four has started auspiciously. We now know that the Arab oil weapon has not affected the USSR and the US in the least. In fact, it has benefited the economies of the super powers. Yes, the economic confidence of Japan has been smashed. But, then, both Moscow and Washington wished this wish for tliffe- rent reasons. The US wanted to knock the wind out of a serious competitor. The USSR wanted Tokyo to be persuaded about the desirability of risk- taking in Siberia. As for Europe, it will .survive at somewhat lower standards

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