Word: kuwait
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Dates: during 1970-1979
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Stretching 500 miles southeastward from the delta of the Tigris and Euphrates rivers to a narrow strait that doglegs around the tiny tip of Oman, the Persian Gulf may be the world's most valuable and vulnerable waterway. At such desert-edge ports as Ras Tanura, Abu Dhabi, Kuwait, Dhahran and Kharg Island, scores of supertankers congregate like wallowing whales to suck up crude oil. Daily they plow through the gulfs warm waters and out through the Strait of Hormuz carrying some 20 million bbl. of oil-almost half of the non-Communist world's consumption...
...Dhabi ten years ago stashed his oil money in the dungeon of his palace, where he could keep an eye on it-even though rats kept nibbling away at his profits. Now the rich gush of oil cash into Abu Dhabi and such other Arab states as Kuwait, Saudi Arabia and Libya has forced a change of attitude...
...Banque Franco-Arabe d'lnvestissements Internationaux (or FRAB), started in Paris in 1969 by the Kuwait Investment Co. in partnership with the French Société Générale and the Société de Banque Suisse. It has $180 million in assets, and its vice president is Abdel Aziz El Sagar, former speaker of Kuwait's Parliament...
First, the U.S. does not regard either Saudi Arabia or Kuwait as a threat to Israel. That view is not necessarily shared by Israelis, many of whom feel that the planes could easily be loaned to a more militant Arab power, like Egypt. But in the State Department's view, the Saudi and Kuwaiti interests are focused primarily on protecting their oil-rich territories against possible attack by other Middle Eastern states. Soviet-armed Iraq, for instance, has already scared tiny Kuwait with border incursions. But why should the U.S., which carefully avoided trying to fill the military vacuum...
Saudi Arabia and Kuwait are two of the biggest Middle East suppliers of oil to the U.S. By helping them to protect themselves, the U.S. is also helping to protect valuable sources of much needed fuel. At the same time, the U.S. would be reducing the chances of either country shutting off oil supplies to the U.S of their own accord. If they become as reliant on the U.S. for weapons (and the training and spare parts that go with them) as the U.S. is dependent on them for fuel, the pipelines are likely to remain open. In short...