But he fails to note that before the 1980's, the Mexican economy was propped up by oil earnings.

This was the result of the petrodollar crisis of the 1970s when oil earnings were recycled into bank loans.

He reportedly used his oil earnings to speculate in the Israeli stock market.

This year's debt service of $6 billion is roughly equal to the oil earnings.

More than 90 percent of Nigeria's national income comes from oil earnings.

NOC said negotiations were underway with other companies to reach similar changes which would boost oil earnings further.

The money going into the fund came from oil earnings, with virtually all of it being sent outside Kuwait.

Iraq would pay for this from oil earnings after reparations were paid.

The Government's dependence on oil earnings for about one-third of its revenue forced three budget cuts last year.

The estimate for this year's oil earnings - virtually the only source of income - is $7 billion.