Word: oils
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Dates: during 1970-1979
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...disclosures began pouring forth from Congress, it turned out that the Senate has 19 millionaires. Among them: Ted Kennedy, who reported an income of between $294,450 and $584,525 in addition to his Senate salary of $57,500, plus oil royalties of up to $50,000 and real estate holdings of $1.5 million...
Spradley awoke the next day with a bullet in his back in a small hospital in Riohacha, Colombia. He explained to authorities that he and McLemore had been flying down to Venezuela to pick up oil-drilling bits. But they had had engine trouble near the Colombian coast and were forced to land on a makeshift runway. Then, claimed Spradley, he was set upon by Indians wearing loincloths. They shot him, robbed him and left him by the plane...
Next, the Gulf Organization for the Development of Egypt, a consortium of oil-rich Persian Gulf states that philanthropically pumped $1.7 billion into Egypt last year, advised Cairo that it was scrapping all pending projects. Finally, the Arab Organization for Industrialization, which was set up in 1975 to produce everything from helmets to helicopters with Egyptian manpower and $1.4 billion in financing from Saudi Arabia, Qatar and the United Arab Emirates, abruptly halted its operations. As a result, 16,000 Egyptians stand to lose their jobs...
...Saudis have been increasingly critical of U.S. policy for some time. They felt that Washington failed to give all-out support to their ally the Shah of Iran, thereby contributing to his downfall. The Saudis are appalled by the profligate American attitude toward oil consumption. More recently, they have been angered by stories that CIA agents had reported home that the Saudi royal family was split in its policy over Egypt and that the power of Crown Prince Fahd, generally assumed to be the country's de facto ruler, was in decline...
Until now, the Saudis have relied almost exclusively on the U.S. for their defense, and in turn have tried to adapt their oil policy to American needs, if not al ways to as great a degree as Washington might wish. Today they regard their friendship with the U.S. as important but no longer crucial. They strongly oppose the Egyptian-Israeli treaty, in part because they believe it will strengthen the radical Arab forces that they themselves fear. And they no longer regard Sadat as indispensable...