Word: arabia
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Dates: during 1980-1989
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Just when Alexander Haig thought it was safe to go back into the water, with the internecine foreign policy disputes that have characterized his tenure seemingly flushed away by the Administration's victory on the sale of AWACS planes to Saudi Arabia, the Secretary of State once again felt the chill of sharks in the White House out to get him. Though only their dorsal fins were visible, it was generally assumed that lurking beneath the surface of rumor and innuendo was Haig's natural adversary, National Security Adviser Richard Allen. The two have had their differences...
...State Department officials last week. The Administration might quarrel with portions of his description, but in spirit it was accurate enough. Seeking to balance conflicting pressure from Israelis, Arabs and European allies in the wake of winning Senate approval for the sale of AWACS radar planes to Saudi Arabia, the Administration found itself at odds with nearly everybody. Luck most certainly will be needed to avoid provoking even more anger, and the President and his aides did not have much luck last week...
OPEC members arrived in Geneva resigned to lowering their official price toward the Saudi level, if the Saudis would reduce their production to eliminate the petroleum glut. Even though the meeting started eleven hours after the Senate agreed on the sale of AWACS planes to Saudi Arabia, the action in Washington had no effect at all on oil politics at the session...
...became apparent very quickly last week that Saudi Oil Minister Sheik Ahmed Zaki Yamani had finally won his test of will with the other OPEC members. They agreed to drop the bench-mark price of crude by $2, and Saudi Arabia indicated that it will lower production immediately from 9.3 million bbl. per day to 8.5 million bbl. The only real disagreement at the session was over the various premiums that members could charge for their crude in addition to the new base price. Algeria and Libya, for example, will be permitted to demand $4 per bbl. more for their...
...last week's meeting wound down, Indonesian Energy Minister Subroto said: "The average price of OPEC oil will change very little." In fact, for Italy, West Germany and The Netherlands, which obtain relatively more of their crude from producers other than Saudi Arabia, the decision will mean lower petroleum prices. The U.S. gets only 17.5% of its imported oil from the desert kingdom, but prices may rise because its other suppliers like Mexico-and even those in the U.S.-are likely to move up to the new unified OPEC price. The cost of gasoline in the U.S. is expected...