Word: oiled
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Dates: during 1960-1969
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...have any real effect, U.N. sanctions would have to include a total blockade on oil imports by Rhodesia. But such a blockade would almost inevitably lead Britain into a direct economic confrontation with South Africa, which now supplies the fuel that Rhodesia cannot readily get anywhere else. That would cut off Britain's considerable trade with South Africa, most notably including gold, which is one of the main props for the British pound. Last week sterling dropped of a cent in a wave of panic selling. Whatever happens, Wilson told Parliament, the U.N. sanctions "must not be allowed...
Some 35 miles farther south on Hawaii is Johno Jackson's isolated plush-primitive Kona Village, three months old. Jackson is a World War II P-51 pilot and California oil millionaire who delights in spinning tales of ancient Hawaii for his guests, offers them skin diving, sunfish sailing, and trips in his Jeep across the cinder beds and lava fields to explore ancient native burial caves. In the sleepy village of Kailua-Kona, close to some of the most exciting fishing grounds of the world (bonefish, blue marlin, Ahi and the jack crevalle), the venerable Kona...
Four years ago, when many American businessmen were bewildered by the Kennedy Administration's bristling rebuke of U.S. Steel, Mobil Oil Corp. Chairman Albert Lindsay Nickerson took Washington to task. He warned stockholders of the "cumulative, undermining effects" of such attacks on large corporations, protested that too often the Government's response to the legitimate needs of business had been "halfhearted, apologetic, and even occasionally antipathetic...
...part of the world never known for unity, the oil-rich countries of the Middle East have been unusually har monious in demanding "akthar, akthar" (more, more) from the Western oil consortiums. The loudest voice has come from Syria, which has no wells but makes do with the next-best thing: a 305-mile stretch of the pipeline through which the Iraq Petroleum Co. pumps oil from its Iraq field to the Syrian port of Baniyas on the Mediterranean. Last week, after weeks of futile negotiations on new rates, Damascus seized the pipeline "to achieve the full rights...
There is more than simple greed behind the pressure. The Persian Gulf countries want high pumping quotas as insurance against competition from new oil sources being developed in areas closer to world markets. By year's end Libya will pass Iraq in production, rank fourth in the Middle East (after Saudi Arabia, Kuwait ,and Iran). Algerian production is growing and tiny Tunisia became an exporter for the first time this year. Before long, Egypt will be in the market, thanks to a Phillips Petroleum strike near El Alamein announced last week...