Word: kuwait
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Dates: during 1960-1969
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...occasion was the state visit of King Saud of Saudi Arabia to the neighboring sheikdom of Kuwait. A Connecticut-sized chunk of desert bordering on the Persian Gulf, Kuwait is so rich from oil that it literally does not know what to do with all its money. Kuwait's portly ruler, Sheik Abdullah as Salim as Sabah, has an annual income of $200 million but modestly keeps only one wife and a single Cadillac. Saud has a yearly income of $320 million, keeps four wives, some 100 concubines, countless cars...
Preparing for Saud's arrival, Kuwait's lesser sheiks spared no expense. Cabinetmakers and furniture manufacturers were kept busy round the clock for a whole month refurbishing air-conditioned desert palaces. First among the princely spenders was Sheik Abdullah al Mubarak as Sabah, commander in chief of the 3,000-man armed forces, head of the police, Minister of Defense and Broadcasting, and Kuwait's unchallenged strongman. Mubarak already owns a Cadillac with brightware completely goldplated, but to celebrate Saud's coming he ordered another 69 Chevrolets, seven Oldsmobiles and seven more Cadillacs. Triumphal arches...
Camel Containing Lamb. Saud landed in his specially appointed DC-6, soon followed by two other planes bearing a retinue of 58 courtiers and five court jesters. Ostensibly, King Saud was merely returning the Kuwait ruler's visit to Saudi Arabia last October. But word in the souks was that the Saudi monarch had ac tually come to get acquainted with Sheik Abdullah al Mubarak, who, although 25 years the junior of Kuwait's ruler, is nonetheless his uncle and is slated to succeed...
Shortage Insurance. In its separate consent decree, Gulf agreed to set aside 100,000 bbl. of oil per day for ten years from its production in Kuwait for sale to independent oil companies. Gulf has always sold to independents, and the Government's requirement is really only an insurance policy for the independents should an oil shortage arise...
WORLDWIDE CONTROLS on oil prices are being planned by Venezuela and the Middle East oil producing countries aroused by recent price cuts in crude by major oil companies. Venezuela, Saudi Arabia, Kuwait, Iraq and Iran formed the Organization of Petroleum Exporting Countries to present a united front in dealing with oil companies, want to ban price cuts without prior consultation with producing nations...