Word: persian
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Dates: during 1970-1979
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Iran embodies both the essence of the Islamic complaint against the West and unique historical grievances of its own. By race (Aryan), language (Persian), religion (Shi'ite Muslim) and historical tradition (ancient Persia was conquered by Muslims in the 8th century), Iran is different from the rest of Middle Eastern Islam. It was never colonized, in the usual sense of the word, by the West. And yet the penetration of Western ideas was deeper in Iran than in some other parts of the Middle East and came to be seen in a considerably more sinister light...
...only does the trauma in Tehran threaten at any moment to choke off deliveries of nearly 3 million bbl. of crude per day to an oil-thirsty world, but it increasingly jeopardizes petroleum supplies throughout the Middle East. U.S. Government officials calculate that a widespread upheaval in the Persian Gulf could quickly cut U.S. imports by 4 million bbl. per day, or more than 22% of total consumption. On another front, the 13-nation OPEC cartel, which has raised petroleum prices by some 1,600% since 1970, is preparing to lift prices yet again when it meets next week...
...power alignment seems likely to emerge in Caracas: a loose coalition among Saudi Arabia, Iraq and Kuwait, the Persian Gulfs three biggest Arab producers, which now dominate the Persian Gulf trade as Iran sinks deeper into internal chaos. Instead of moderate price increases, higher production and cooperation with Washington, the outlook for the cartel as a whole seems to be for substantially higher prices, tighter supplies and increasing disinterest in whatever the U.S. seeks...
Such imperial hauteur contrasted powerfully with the Shah's beginnings. Though he took great pains to present his reign as a continuation and fulfillment of 2,500 years of Persian monarchy, his dynasty had not even been founded when he was born on Oct. 26, 1919. His father, Reza Khan, was a soldier's son who did not learn to read and write until he was an adult. Reza Khan started as a noncommissioned officer in the Persian army, rose to colonel, and in 1921 led a military revolt that finally ousted the last Shah of the Qajar...
OPEC producers hardly seem in the mood to be particularly generous to anyone. Though Treasury Secretary G. William Miller spent much of last week in Persian Gulf capitals urging price moderation and a boost in production, officials did little more than listen politely...