Word: gulf
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Dates: during 1970-1979
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...Hitch. Washington took care to get foreign fishing nations to sign prior agreements to abide by the 200-mile U.S. limit. They could scarcely object because most had enacted 200-mile limits of their own, much to the discomfort of U.S. fishermen who net shrimp in the Gulf of Mexico and tuna in the Pacific off Ecuador and Peru...
...Rudeis fields to the north were handed back to Egypt. Exploration has already led to conflicts, since other oil teams under Egyptian contracts are also working there. Israeli naval crews last fall shot at equipment owned by Amoco to keep that American company from working in the Gulf of Suez just off El Tur. Then in December, Israel set up its own costly offshore drilling rig, manned mainly by American roughnecks. Two weeks ago the Israelis began sinking another hole on the shore at El Tur, slant-drilling into the waters whose ownership it disputes...
...hosts complain about Washington's blocking the sale of 24 Israeli-made Kfir warplanes to Ecuador (the jets would be powered by American-made General Electric engines). Jerusalem was also smarting under the Carter Administration's criticism of Israel's oil prospecting in the Gulf of Suez...
...industry was jolted last week by bad legal news that involved drilling below two widely separated stretches of water. The Government voiced deep suspicion that major companies are not producing as much natural gas as they could from beneath the Gulf of Mexico, and a federal judge issued an order that will in effect forestall drilling for oil off the coasts of Long Island and New Jersey...
...economist has challenged that assumption. In an impressively documented book titled The Control of Oil, just published by Pantheon Books, Dr. John M. Blair argues that the real culprits are the major international oil companies, known familiarly as the Seven Sisters (Exxon, Mobil, Standard Oil Co. of California, Texaco, Gulf, Royal Dutch Shell, and British Petroleum). In Blair's view, the companies actually aided and abetted the OPEC increase, while pleading helplessness to their price-gouged public. "A form of bilateral symbiotic oligopoly" is the author's complicated if caustic term to describe the relationship between...