Word: investers
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...staggering $150 billion over the next five years. But they will be unable to buy or build fast enough to use up even one-third of their oil money on domestic development. By 1980, they stand to have well over $100 billion in surplus?to lend, give away or invest in foreign countries...
...Washington Post reported recently that an Arab bid to invest $100 million in Lockheed Aircraft Corp., made this spring, was rejected by the company, even though it needed the cash. Arab investors suspect the deal was quashed by the White House. An Iranian bid to lend Grumman Corp. a similar sum was vetoed in August...
Since the energy crisis and a gargantuan fourfold increase in petroleum prices, however, such chuckles have died away. Instead, there is anger that prices artificially set by the 13 members of the Organization of the Petroleum Exporting Countries give those nations massive revenues to invest in the West. The new and powerful image of the oil oligarchs has prompted many menacing scenarios, including New York magazine's recent fantasy about a successful military conquest by the Shah of Iran...
There should be no doubt that the Shah, or any other OPEC member, ought to be allowed to invest in U.S. industry. To deny that right would be to negate a longtime U.S. principle governing investments abroad. Says Columbia University Professor of Law and International Organization Richard Gardner: "The U.S. for years has been preaching the doctrine that there should be broad freedom for international investment. Now that the shoe is on the other foot, it seems hypocritical to say that foreigners cannot invest here." Gardner's sentiment is shared by a large number of thoughtful U.S. business executives...
...Chile's socialism, as Heitmann describes it, is far from the policies reigning before the military overthrew Allende. While the state is to own all natural resources, Chile will encourage foreign businessmen to invest in them. The government will resort to nationalization in the future "only if necessary." Foreign companies seized by Allende have either been returned or their former owners have been compensated. And later, in his speech, the ambassador tells his audience that the junta will retain power "as long as it takes to reorganize the country from a socialist system to a capitalist system." Elections can take...