Word: conoco
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...Conoco's decision this week to cancel a potentially lucrative oil deal with Iran bodes well for American business and American politics...
...Houston based subsidiary of the Du Pont corporation, Conoco won a contract with the Iranian government to develop two off-shore oil fields in the Persian Gulf in a deal reputedly worth approximately one billion dollars...
...sooner had Conoco announced the contract than voices of protest mounted, both in the Clinton Administration and in the Du Pont corporation itself. While Conoco's deal did not represent a violation of American law (the oil from the fields was not to be brought into the United States) it did constitute a gross violation of the spirit' of American policy Vis-a-vis the Islamic regime in Iran...
...questions raised by a foreign policy issue like the Conoco deal do not admit of tidy solutions. Faced with the option of making an important (if symbolic) point or maintaining a stubbornly consistent foreign policy vis-a-vis all authoritarian regimes, the Clinton Administration chose the former. It was a correct decision...
...White House's handling of the Conoco affair is an example of one such success. The administration displayed fortitude and foresight in blocking a deal that would have compromised vital American intersts at home and abroad. If only the policy wars were as easy as the battles...