Word: evens
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Dates: during 1970-1979
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...Even as President Carter struggled to resolve the Iranian crisis, his defenders and critics last week began what almost surely will become a protracted controversy over the events that led to the takeover of the embassy in Tehran-and what the U.S. might have done, if anything, to prevent it. Some experts on Iran in the academic world believe the first mistake of the Carter Administration was failing to understand the basic nature of the movement that swept the Ayatullah Khomeini into power. Following the policies of preceding administrations, Carter originally supported the Shah, seeing him as a stabilizing ally...
...matter what the Iranians say, there is ample historical precedent for the U.S. to give sanctuary to the Shah, even on a temporary basis. Largely because of the vagaries of extradition treaties, which vary from country to country,* even the most hated of deposed rulers has usually managed to find a safe haven somewhere in the world. Egypt's decadent King Farouk luxuriated in Italy after his deposition by the army in 1952. Argentina's Dictator Juan Perón was a resident of Spain between 1960 and 1973, when he returned home to reclaim power. Uganda...
...fall victim to the crisis between the U.S. and Iran? Though the U.S.'s cutoff of imports from Iran and its seizure of that nation's assets in U.S. banks was a necessary response to irrational provocations, the actions also transformed petrodollars and petroleum itself into even more dangerous weapons in economic brinksmanship. That, in turn, added a new and alarming element to the crisis...
Late in the week Iran further complicated the situation by declaring that American companies would no longer be permitted even to buy Iranian crude, let alone deliver it to the U.S. The petroleum will be sold instead to any non-U.S. oil companies that want it, leaving the U.S. firms to scrounge on world markets for whatever available non-Iranian cargoes turn...
...drop in OPEC output of as much as 3 million bbl., an amount just about equal to total current Iranian production. The drop would be caused by expected cutbacks early next year by Saudi Arabia, Kuwait, Iraq, Nigeria and Libya. Thus oil prices stand to rise considerably even if Iran does not reduce its current production...