Word: kuwait
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Dates: during 1970-1979
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...diplomatic corps and educational system. Of the 3.2 million Palestinians, approximately 1.5 million live in Jordan (including the West Bank). Another 400,000 live in Israel, 350,000 in the Gaza Strip, 300,000 in Lebanon, 160,000 in Syria, 50,000 in Iraq, at least 80,000 in Kuwait, and large numbers in Persian Gulf states, Saudi Arabia and Libya...
Amuzegar nonetheless clearly resented some of his neighbors. "Everybody considers Iran to be the villain in raising prices," he said. But "it is the Arabs" who are forcing up prices with their takeovers of foreign oil companies and buy-back arrangements. Last week, for example, Kuwait's government approved an agreement to acquire 60% of the British Petroleum-Gulf Oil Corp. joint venture in that nation, and Saudi Arabia plans to renegotiate its agreements with the Arabian American Oil Co. Iran, a Moslem but non-Arab country, which nationalized its oil industry years ago, "does not engage in that...
...Calcutta-ization." Following the Suez Canal's closing, which has cost Egypt an estimated $2 billion in lost revenues since 1967, the country has largely depended on tourism and agricultural exports for income. Egypt has also received subsidies and credits from Arab allies (notably Saudi Arabia and Kuwait) and substantial aid (mostly military) from the Soviet Union. Nonetheless, Egypt's foreign debt is now about $7 billion. This year's balance of payments deficit will probably be the same as last year's: about $2 billion...
...accommodation with the Arabs, there were plenty of pitfalls to make Kissinger cautious about what he could accomplish on a trip to settle Israeli-Syrian disengagement. It was to commence in Geneva with a conference with Soviet Foreign Minister Andrei Gromyko and then take the Secretary to Algiers, Cairo, Kuwait, Damascus and Jerusalem. Obstructions anywhere along the way could threaten Kissinger's success...
...produce just as much oil as we need for the development of our economy-and no more," says an Arab spokesman. The implication is that some members of the Organization of Petroleum Exporting Countries will reduce output to keep supply and demand in balance and prices high. Indeed, Venezuela, Kuwait and Libya have already decreased their production of oil; but Iran, Nigeria, Indonesia and others have stepped up theirs, more than making up the slack...