Word: gulf
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Dates: during 1950-1959
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...country to see an occasional shipboard movie. Title of one movie: The Desperate Hours. He presides over a flood of operational, intelligence and logistics reports that range from one end of his command at the Navy base at Port Lyautey, Morocco, to the other end in the Persian Gulf, where the Navy maintains a little-heralded and could-be-boosted force of one seaplane tender and two destroyers. He keeps up a drumfire of "sitreps"-situation reports-to Admiral Burke, a flow of erudite radio dispatches to Righthand Man Cat Brown, usually kicked off in crisis' heat with...
...never mind talking," said a Macmillan aide, and Macmillan meant to speak as plainly to Khrushchev as Sir Anthony Eden had before about British determination to defend its interests in such Persian Gulf oil states as Kuwait (the source of half of Britain's oil). Britain's concern is immediate: the Sheik of Kuwait, whose oil royalties are some $300 million a year, conferred twice in Damascus last week with Nasser. It also became apparent that Macmillan was getting ready to put Nasser himself on trial. The Middle East war that Khrushchev said had "already begun...
...next refuted the author's claim that aspirations to Arab unity come from a lexicon of liberal foundations. By quoting speeches made by Nasser on several occasions during the past five years, he showed that the dictator's desire that Egypt spread "from the Atlantic Ocean to the Persian Gulf" is but the traditional Egyptian attempt to expand, now under the guise of Arab unity...
...near collapse. Jordan's oil supplies were snapped off when the rebels seized Iraq, and queues lined Amman's streets to buy gas at exorbitant prices. To alleviate the fuel shortage, the U.S. agreed to fly in 1,000 tons daily from Bahrein in the Persian Gulf, and to help out the economy gave Hussein $12.5 million. Symptomatic of current Arab fears of antagonizing Nasser, Saudi Arabia forbade the U.S. oil transports to fly over...
Offense & Defense. The major international oil companies did not recover. No one really expected them to. Royal Dutch dropped from 45⅞ to 42; Texas Co. from 71⅝ to 68; Gulf from 118 to 109⅛. Domestic oils, which could benefit from greatly increased production at home in another situation like Suez (see below), staged a smart rally. Atlantic Refining rose from 38 to 40¾; Shell from 76 to 80⅝; Amerada from 104 to 109¼. Like the home-grown oils, many other industries slowed by the recession picked up market strength as investors gambled...