Word: boycotts
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...about Watergate and his alleged neglect of the black clergy's call for Christian activism. At the press conference, Graham was asked to comment on the challenge. He declined, but said he'd gladly talk to the black leaders if they called him. They never did. Blacks continued to boycott the crusade throughout the week and the crowds who saw Graham in Atlanta were almost all well-dressed and white...
...would the multinationals, vulnerable to Arab nationalization of their wells, so effectively frustrate the spirit of the boycott-and why would governments go along with a practice that seemingly hurts their own citizens? Actually, they have little choice. Rotterdam is the largest refining center in Northern Europe. Shell, Exxon, Chevron, British Petroleum and Gulf all have huge refineries there that supply neighboring countries as well as the Dutch...
...intentions. As far back as 1948, Arab nationalists were urging the use of oil as a political weapon in the fight against Israel. Two decades later, at the time of the Six-Day War, the Arab oil producers did, in fact, briefly cut off oil to the West. Their boycott did not succeed then because supplies outside the Arab world were still adequate, but the experience should have been warning enough that overdependence on such an uncertain supplier was foolhardy...
...much good," President Nixon blandly said only a month before the Middle East war broke out anew, seemingly unaware that in oil there is now only a seller's market. Even in such a simple matter as providing adequate petroleum stockpiles, the U.S. was caught flatfooted. When the boycott began, Europe had, in proportion to its consumption, a far larger emergency supply in its oil bank than...
...Washington so oblivious to the Arab threat? Part of the reason may be that the memory of the brief and ineffectual 1967 Arab oil boycott made policymakers complacent. In fact, the Arabs had never been able to act together until this year, and there was at least some reason to think that they might never be able to. There seems, nonetheless, to have been an arrogant misreading of the Arab character, an inability to believe that the leaders of preindustrial societies could apply sophisticated economic pressures. "At the beginning of World War II there was this saying: 'The Japanese...