Word: libya
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...citizen to work for a foreign government and lobby for its interests. But if he is under its direction or control, he must register with the Department of Justice. For almost two years Billy has quite openly been the best U.S. friend of the dictatorial Arab republic of Libya. But he had all along refused to register because, he insisted, he was just a friend to the Libyans, not an agent. All that changed when the Government found out earlier this year that Billy had received $220,000 from the Libyans in "loans." Loans are not compensation, but the Justice...
...influence in Washington and I have not tried to use influence I don't have." In deed, the Libyans seem to have got little from the country slicker from Plains. But Billy was frank enough to admit in an ABC interview: "I would not have been invited to Libya if Jimmy wasn't President. They sought my friendship because I was the brother of the President." Legally, he can now operate as an agent for the Libyans, but he claims he has no plans...
...game, some of these institutions are starting off with formidable monetary bases. Begun in 1977, Gulf International Bank has assembled assets of nearly $3 billion and is competing with the big U.S. financial institutions in loan underwriting. The newly founded Arab Banking Corp., a tripartite venture of Libya, Kuwait and the United Arab Emirates, has a $1 billion capital base, equal to that of Manhattan's Bankers Trust, the tenth largest...
...sell oil for anything less. Since the Iranian revolution set off the latest world oil shortage, the difference between the floor price and the top rate charged by some OPEC members has grown considerably. Now the new ceiling price policy should limit the oil escalation by hawks like Algeria, Libya and Nigeria...
Nevertheless, last week's decision immediately set off some price shifts. While high-price countries like Libya and Algeria did not push theirs higher, Kuwait, Iraq, Qatar and Venezuela announced that they would begin demanding as much as $2 per bbl. more for oil on July 1. Those four countries have been recently charging a basic price of about $30 per bbl. for crude. Saudi Arabia refused to increase its rates for now, but Yamani hinted that he might raise them by $1 per bbl. to $4 per bbl. in order to unify OPEC prices. Some oil experts expect...