Word: kuwait
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Dates: during 1970-1979
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...registered in third countries, like the Liberian-flag Coral Sea. Sailing orders are often doctored so that there is no record of some ships' ever carrying oil to Eilat at all. Arab leaders have tried not to think about the matter for practical reasons: Saudi Arabia and Kuwait help support Egypt and Jordan with annual subsidies out of oil revenues. How they get their oil to Western Europe's thirsty countries, with the Suez Canal closed, is something that they would prefer to keep to themselves...
...producer of false teeth (after the U.S.). It has no currency of its own, nor does it have soldiers, unemployment, slums or airports. Last week's vote left Liechtenstein another distinction: it is the only European country without female suffrage, leaving it in the same category as Jordan, Kuwait, Northern Nigeria, Yemen and Saudi Arabia (where men cannot vote either). Some Liechtensteiners saw the outcome less as a rejection of women than as a gesture of independence from Switzerland, which granted suffrage to women by a 2-to-l majority only last month...
Before departing for his ski chalet at St. Moritz last week, the Shah of Iran conferred a medal, the first-class Taj, or crown, on his finance minister Jamshid Amuzegar. The dapper, Cornell-trained Amuzegar had led the six oil-producing nations of the Persian Gulf-Iran, Iraq, Kuwait, Saudi Arabia, Abu Dhabi and Qatar-in wresting an enormous increase in payments from 23 international oil companies, 20 of them American. In fact the Shah, who had guided the negotiations over the gold telephones installed at his desk and bedside in the royal palace, had good reason to be pleased...
...time, a score of oil companies operating in the Middle East and North Africa are negotiating as a group* -a precedent made possible when the Justice Department agreed to waive the antitrust laws for U.S. participants. The companies are confronting representatives of the main oil-producing nations: Iran, Iraq, Kuwait, Libya, Abu Dhabi, Qatar, Algeria, Saudi Arabia, Indonesia and Venezuela. In their quest for money the producing countries can bargain with muscle because they can always threaten to cut off shipments to Europe, which gets 85% of its oil from them, and to Japan, which depends on the Middle East...
...wells of the Middle East have continued to work through crisis after crisis-and will likely continue to do so-because the Arabs need oil money. North African and Middle Eastern countries, including Iran, collect a total of $4.8 billion annually in oil revenues. As Kuwait's Oil Minister Abdul Rahman Attiiqi has said, "Any oil stoppage could cause more harm to Arab than to American interests." Oil provides 76.5% of Saudi Arabia's revenue, 94% of Kuwait's, 79% of Libya's and 56% of Iraq's. The international markets are controlled...