Word: kuwait
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Dates: during 1970-1979
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...from Beirut to New York were ready to believe that it was no longer impossible that one or more Western powers might in some dire future contemplate military intervention in the Persian Gulf to secure control of petroleum reserves. There were even unconfirmed stories in the Middle East that Kuwait had mined its oilfields and tightened security around its pumps and pipelines...
...were ready to see a shift of the globe's geopolitical balance. The OPEC nations, with great financial clout, would be able to wield decisive influence in the world's political councils and could become arbiters in tune of crisis. The mood of urgency was intensified at midweek, when Kuwait and Venezuela announced further tax increases of 3.5% on the oil that they export...
When they first gathered 14 years ago in Baghdad, almost no one noticed. Few even saw the reports in Iraqi newspapers that representatives from Venezuela, Saudi Arabia, Iran, Kuwait and Iraq had decided "to create an organization for regular consultation and for the coordination of oil policies." Yet from this modest and seemingly innocent beginning, the Organization of Petroleum Exporting Countries has become the toughest and most powerful cartel in history. OPEC has grown to 13 members,* and its ukase sets the export price for oil, thus exercising an unprecedented influence on the economies of almost all countries. Its recent...
...this new generation. The two most important are a pair of rivals: Saudi Arabia's Harvard-educated Sheik Ahmed Zaki Yamani, 44, who publicly argues for slightly lower prices, and Iran's Cornell-educated Jamshid Amuzegar, 50, who argues for even higher prices. The other three are Kuwait's Abdel Rahman Atiqi, 44, Algeria's Belaid Abdessalam, 43, and Iraq's Saadun Hammadi, 44. Last year Hammadi excused himself for arriving late at an OPEC conference: "Sorry, I had to nationalize part of the Basrah Oil Company first...
...with his job, he is compensated by the life of a diplomat: a few years here, a few years there, never staying in one place long enough to grow restless or attached to the surface of things. His three sons--Scobie, Matthew, and Quentin--grow up in snatches, in Kuwait, London, Athens, Switzerland. Each time Laura looks again at them she is awed by the opaque process through which they are being transformed from children who were once extensions of herself, into other, opaque human beings. As a successful family, in the end the Richardsons' relationship is that...