Word: oil-rich
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...dollar's slide, the Carter Administration began a series of steadying actions last week. The U.S. Treasury announced that starting in November it would boost its gold sales from 300,000 oz. per month to 750,000. To allay any speculation about the oil-rich nations turning against the dollar, Treasury Secretary W. Michael Blumenthal met with Saudi Arabian Finance Minister Mohamed Abdel-Kheil at Disney World, of all places, where the minister was vacationing with his family. Blumenthal suggested that a timely statement of support might give the dollar a lift. Soon after, Crown Prince Fahd declared that...
...only two test wells-the Conoco and Shell dry holes-have been drilled to completion in the Baltimore Canyon. By comparison, at least eleven were sunk into Alaska's North Slope before a good find was made. In the North Sea, it took 50 false starts, and in oil-rich Western Canada the number reached...
...Oil-rich Iranians can afford homes abroad, Swiss bank accounts and a seemingly endless supply of imported goods. But the big question now facing the country as a whole is how much political freedom will it decide it can afford...
Mobutu's relations with his neighbors are strained, to say the least. Angola in particular has had problems with his erratic and belligerent style. Mobutu's designs on Angola have never been secret: he wanted to acquire the oil-rich enclave of Cabinda--which is separated from Angola by the Congo River--along with whatever else he could grab. When the Portuguese agreed to leave Angola, Zairean and South African troops joined local groups to fight the Movimento Popular de Liberacion d'Angola (MPLA), which had established itself as the best-organized and most popular nationalist movement. In this "Second...
...Party, a grouping of Marxists and socialists led by Khaled Mohieddin, who was known as the "Red Major" when he was a member of Gamal Abdel Nasser's Revolutionary Command Council. Among the leftist charges: much of the $10 billion given to Egypt by Saudi Arabia and other oil-rich Arab states since 1973 has never reached the people; a bribe of $1.5 million was paid to a government official to get a hotel project started near the Pyramids; the army sold a plane, a gift from another Arab state, to an influential Egyptian at half its value...