Word: mossadegh
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...first day of spring*-an arrangement seemingly designed for the maximum in joy and optimism. Last year Iran celebrated Now Rouz in high hopes of a rich and endlessly prosperous future, for on that New Year's Eve the Iranian Parliament, under the guidance of wily Premier Mohammed Mossadegh, voted to nationalize Iran...
This week, as Now Rouz rolled around again, Iranians were in full control and possession of their oil but did not know how to refine it, and no tankers called at Abadan. A commission of experts from the World Bank, disheartened by Mossadegh's fanatic unreasonableness, prepared to leave Teheran, taking with it any hope of an immediate solution of bankrupt Iran's oil problem. With no money to spend, shoppers gazed longingly into the windows of Teheran's shops and glumly wished one another a happy Now Rouz...
...Persian Gulf's capacity to pump up oil strains belief. Within less than a year after Mossadegh's fanatics shut down the world's largest refinery at Abadan, other Middle East fields have not only made up the deficit but increased the total by more than 100,000 barrels...
When Kuwait Oil Co. first went into Kuwait 18 years ago, it did not worry too much about pleasing the Sheik or sharing the new-found wealth with the people. Iran changed all that. As soon as Mossadegh got into power, K.O.C. sought out the Sheik-who had been getting a measly royalty of 10^ a barrel-and offered him a 50-50 split of profits, before taxes. This year, facing the pleasant prospect of a return of more than $200 million, the Sheik also faces a problem: how to spend it on his tiny, backward kingdom without creating inflation...
Fatemi, crying, "Save me, I am burning!", was rushed to a hospital, where Mossadegh's elder son, Dr. Gholam Hussein Mossadegh, sewed up his shattered intestines. At week's end, he was reported "holding...