The Economy: An Iranian Answers Back

One of the most visible and vocal advocates of keeping oil prices high is Jamshid Amuzegar, Iran's shrewd and dapper Interior Minister. Amuzegar was chief negotiator for the producer countries in the 1971 settlement that first humbled Western oil companies by forcing costly price and tax boosts. Since then, he has become the Shah's right-hand oil expert. In an interview in Teheran last week with TIME Correspondents Karsten Pragerand William Stewart, Amuzegar talked forcefully on a range of topics.

OIL PRICES. If we had not taken the price action, the world would have...

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