Word: arabian
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...vitriolic press release Jimmy demanded 'that Ickes should be removed, perhaps impeached for his "Arabian adventure"-the proposed Government pipeline across the Middle East (TIME, Feb. 14 et seq.). "In my 38 years in the oil business," Jimmy told reporters, "I have heard nothing but [a U.S. oil] shortage." (He cited a 1920 statement by Jersey's William Parish that there was no more oil in Texas.) Besides, why should "that obstructionist" Ickes spend up to $165,000,000 of the taxpayers' money to promote a strictly commercial operation in the middle...
...Industry Speaks. Though his statistics were suspect, Jimmy Moffett was right on the U.S. oil industry's beam. Next day 55 members of the Petroleum Industry War Council released a resolution against 1) the Arabian pipeline. 2) the continued existence of Harold Ickes' Petroleum Reserves Corp. They represented every U.S. oil company except Gulf, Texas and Standard of California, who are the only three beneficiaries of the Middle Eastern pipeline...
...three interested Middle Eastern oil companies dislike Government intervention but are willing to chance it in the form of a pipeline because they need continued and active U.S. Government support of their Arabian ventures...
...London, Foreign Secretary Anthony Eden, questioned by Parliament about the U.S. entry into Britain's Middle Eastern bailiwick, would say no more than that consultation was necessary. British press comment on the U.S.-Arabian pipeline was notably nonexistent. And the U.S. press would have said much more if it could have found out anything...
...industry agrees with California Arabian: there should be no Government managerial interest in world oil. In a sense the industry wants to have and eat its cake. The report last week called for plenty of official diplomatic support for whatever deals private U.S. interests negotiate...