Word: gaddafi
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...world Sadat was bringing about a new sense of fraternity, particularly during the past six months. He regained the support of King Feisal, who was said to feel chagrined that his advice to the Egyptian President about ousting the Russians had been mistaken. Libya's hotheaded strongman Muammar Gaddafi (TIME cover, April 2) wanted to unite with Egypt immediately; Sadat persuaded him instead to accept a gradualist approach to the merger (partly as a result, Gaddafi has sulked and done little during the current fighting...
...against Israel. His well-publicized fence-mending operation with Saudi Arabia's conservative King Feisal, his urging that Arab oil be used as a long-range commercial and diplomatic weapon against Israel, and the slight rebuke he gave Libya's hawkish strongman Colonel Muammar Gaddafi by delaying the proposed merger of Egypt and Libya-all these acts implied that Sadat was not thinking about imminent...
Legal skirmishing over Libyan oil started in late 1971, when British Petroleum filed the first of several suits against Italian and Greek purchasers of oil from a field that Gaddafi had nationalized. American companies were not then involved, but on Sept. 1 this year, the militant Gaddafi decreed that Libya would take over a 51% interest in all foreign-owned oil operations and pay the companies what they had actually invested, less depreciation. The companies were given until the end of September to agree, or risk 100% nationalization. Such big firms as Exxon and Mobil refused, and are seeking much...
...companies can hardly put as much pressure on Gaddafi as Kennecott did on Allende. Allende was isolated, strapped for foreign currency and desperately dependent upon copper sales; Gaddafi has strong backing from other Arab oil states, commands huge reserves of foreign money and can find plenty of eager markets for Libya...
...Texaco and California Standard hope to press Gaddafi into making a deal that they feel they can live with...