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Word: kuwaiti (lookup in dictionary) (lookup stats)
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...price of crude oil for October delivery leaped to $32.35 per bbl. at one point last Thursday, the highest since futures trading began in 1983, and closed Friday at $30.91, drastically above the $18 spot price that prevailed only a month ago. The worldwide embargo of Iraqi and Kuwaiti oil has removed about 4 million bbl. a day from international trade, and doubts are growing that other producers can make up the shortfall. Some experts are skeptical that Saudi Arabia can increase its production of crude quite as much as the 2 million bbl. daily it has promised. The Saudis...

Author: /time Magazine | Title: The Petro Panic | 9/3/1990 | See Source »

That brief, exhilarating moment of national defiance went unseen and unheard by the world. Each day Kuwait grows more isolated as the Iraqi occupiers cut off the last few lines of telephone communication. Even the dozens of Kuwaiti refugees in Saudi Arabia who call home by mobile cellular phone can rarely get through. Citizens and foreign residents must rely on friends and relatives who have escaped the country to bear their message of despair. Although the tide of refugees is drying up as Iraqis reportedly mine the desert roads, each day brings another exhausted traveler on the run with fresh...

Author: /time Magazine | Title: The Gulf: Where Shadows Are Dark | 9/3/1990 | See Source »

...garbage smolders and the shells of stripped and abandoned cars, many of them disabled Iraqi military vehicles, glisten beneath the sun. Refugees report a deepening water shortage, and there is concern that the all-important desalinization plant is not being properly attended to. "There is no maintenance," says a Kuwaiti refugee in Saudi Arabia. "Sooner or later everything is going to break down...

Author: /time Magazine | Title: The Gulf: Where Shadows Are Dark | 9/3/1990 | See Source »

Even if Saddam finds someone to sell to him, he will soon run out of cash for supplies if the boycott of Iraqi and Kuwaiti oil continues to hold. By week's end the embargo was nearly 100% complete, choking off all exports from both countries...

Author: /time Magazine | Title: The Gulf: The World Closes In | 8/20/1990 | See Source »

...would be overly optimistic to hope that the global encirclement of Saddam will serve as a model for coping with future regional conflicts. The world response to the Kuwaiti crisis is a special case because the stakes -- oil -- are so high and because Saddam has played such a textbook villain. No such unanimity could be expected if, for example, India invaded Pakistan, Senegal made a move on Gambia, or Bolivia rumbled into Paraguay. In effect, this first test of the post-cold war security structure is a relatively simple one. But that is all the more reason why the forces...

Author: /time Magazine | Title: The Gulf: The World Closes In | 8/20/1990 | See Source »

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