Word: mi
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Rules of the Road. It was another typical day on Yankee Station, the patch of the 45,000-sq.-mi. Tonkin Gulf from which U.S. Task Force 77 launch es its air strikes on North Viet Nam. Ever since the 33-ship force arrived, it has been tailed by one or another of the snoopy Soviet trawlers. Equipped with sophisticated electronic gear, the Russian "skunks" (as they are pungently known in Navy parlance) keep a close watch on U.S. air operations, flash their information to beleaguered Hanoi, and do their best to monitor the radars and radios of American ships...
...deal arranged by E.R.A.P. Chief Pierre Guillaumat, 57, a longtime De Gaulle lieutenant, E.R.A.P. will search for new oil reserves over 85,000 sq. mi. of Iranian desert and offshore tracts in the Persian Gulf. The French twist is that E.R.A.P. will operate as a contractor to Iran rather than a concession-holding partner. Instead of splitting earnings with the host country on a 25-75 basis, as most major international oil companies do, France will turn over half the oil reserves it finds to Iran, in return for rights to pump out as much as 45% of the rest...
...that, waving the juicy E.R.A.P. deal as precedent, every sheik in the Middle East will be howling for similar agreements. Actually, France may well decide that it was a poor idea after all. Under the contract, E.R.A.P.'s exploratory territory shrinks from 85,000 to 12,000 sq. mi. after the first year, and still more after that; search rights may be stopped altogether after six years. Given past experience, the prospects for finding oil are uncertain indeed. Last year the French plumbed one Iranian concession for months, came up with only dry holes and a $27 million loss...
...they have touched a genuine national concern. Into the small White House office that she has set up to handle the beautification drive come up to 400 letters a week and countless phone calls. Last week Lady Bird was off again, this time on a threeday, 4,300-mi. swing through the West, accompanied by Interior Secretary Stewart Udall. In California, she dedicated Point Reyes National Seashore and almost got trapped by a wave. She switched from natural to artificial beauty long enough to help open the San Francisco opera season. Next day she planted a horse-chestnut seedling...
...Phillips turned to Libya after dropping the usual string of names and introductions, was soon in conference with King Idris working out an oil concession. Phillips' original 3% interest in the 9,000-sq,-mi. concession has been lost to sight in a series of transfers. The concession is now held by W. R. Grace & Co. and Sinclair Oil, and the field operator is Standard Oil of New Jersey. None of these companies deals directly with Phillips, but he is believed to be drawing from $100,000 to $200,000 annually from royalties on the Ra-guba well, which...