NEW YORK, March 3, 1999 (PRIMEZONE) -- The most effective way to influence the political future of Iran is to ensure that American companies can do business there, ARCO Executive Vice President Don R. Voelte told an international audience here today.
"We believe that whenever possible, constructive engagement, rather than isolation, is the best way to have a positive influence on another nation," said Voelte, whose responsibilities at the nation's fifth largest oil and gas company include Middle East development.
"Obviously, the exclusion of U.S. companies is bad for ARCO, but I also believe it's bad for America," said Voelte." I don't believe it makes any sense to preclude U.S. influence in one of the most important countries in one of the most strategically significant areas of the world.
"The hard fact is that current U.S. policy will do nothing to influence Iran's foreign policy or behavior," Voelte said. "And the reason is simple: there are alternatives to U.S. business, capital, technology, and expertise. And, yes, there are also alternatives to U.S. energy companies."
Voelte urged the administration to revisit a proposal unveiled by Representative Lee Hamilton of Indiana last April, which calls for an immediate easing of U.S. economic sanctions, followed by a cautious "step-by-step" approach to improved relations between the U.S. and Iran, ultimately leading to government-to-government talks.
Voelte was speaking at a conference entitled Oil and Gas Investments in Re-Emerging Middle East Markets: Iran and Iraq, sponsored by the Energy Intelligence Group, CWC Associates, the Middle East Institute and the Iranian Trade Association.
ARCO (NYSE:ARC) is a worldwide integrated hydrocarbons corporation with operations encompassing all aspects of the oil and gas business: exploration, production, refining, and marketing of crude oil, natural gas and natural gas liquids. ARCO has significant operations on the North Slope of Alaska and in the Western United States, Gulf of Mexico, China, Indonesia, and the United Kingdom North Sea.
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