Word: kuwait
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Dates: during 1970-1979
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...imports. This can be accomplished fairly easily by seven of the OPEC members: Iran, Venezuela, Indonesia, Iraq, Nigeria, Algeria and Ecuador. They have relatively big populations and much poverty?hence much need for internal development. The huge problem is that six other, lightly populated Arab states?Saudi Arabia, Libya, Kuwait, Abu Dhabi, Dubai and Qatar?are collecting far more money than they can possibly spend. These six, embracing only 9.3 million people, earned $54.7 billion from oil last year. For all their industrialization and social welfare, their military and foreign aid, they can dispose of only a fraction of that...
...Dhabi. But those figures did not reflect living standards because the quick cash has not had time to filter down to the people. Bureaucracies strained to figure out ways to spend at home. Kuwait expanded one of the world's most all-encompassing welfare states. To hold down food prices, most of the big oil producers subsidized imports of staples. Office buildings, low-rent apartments and supermarkets rose almost everywhere. Some planners worried about keeping a work ethic going. Said a Saudi government minister: "We will have to be very careful not to spoil our citizens. Our people will have...
...members of OPEC, in order of last year's earnings are: Saudi Arabia, Iran, Venezuela, Nigeria, Libya, Kuwait, Iraq, United Arab Emirates, Al geria, Indonesia, Qatar, Ecuador and Gabon, which is an associate member. The United Arab Emirates is a federation of Abu Dhabi, Dubai, Sharjah, Ajman, Umm al Quwain, Ras al Khaimah and Fujairah...
Faisal consults senior princes and tribal chiefs on important matters, but final decisions are still his own. Unlike neighboring Bahrain and Kuwait, which are experimenting with legislatures, Faisal has no parliament, which he considers to be the crutch of a weak ruler...
...Saudi Arabia has been precarious until recently. The family dominated the rudimentary kingdom for more than 150 years until 1891, when they were driven out by stronger tribes. In 1901, however, Faisal's father, crusty Abdul Aziz, popularly known as Ibn Saud, roared out of what is now Kuwait to recover power. Ibn Saud gradually regained the kingship in rolling battles that involved shifting tribal loyalties and, eventually, British intrigue. Finally, in 1925 a force of 45,000 Bedouins led by Faisal - then his father's fa vorite lieutenant - recaptured Mecca by driving out Sharif Hussein, great-grandfather...