Word: petroleum
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Dates: during 1950-1959
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...steadily toward Communism. They recall that Kassem's revolution began not only with the murder of the King but with the burning of Baghdad's British embassy. But they also realize that, so far, Kassem's government has honored its contracts with the British-run Iraq Petroleum Co., in order to keep Iraq's $230 million-a-year oil royalties...
...election of twelve provincial legislators in wine-and petroleum-producing Mendoza a fortnight ago measured the fall of Frondizi's popularity: his party lost every seat that it had held. President Frondizi is booed in the newsreels, jeered at on public occasions, disliked by even a large portion of his own party. But he plunges grimly on: "A lowering of the standard of living of Argentines is inevitable during the next two years. It is impossible to continue consuming more than is produced...
...robed sheiks but zealous dark-suited young Arab technicians dominated the first Arab Petroleum Congress in Cairo last week. The 420 delegates looked at the $6,000,000 worth of machinery exhibits and held seminars in drilling techniques-but their real interest was oil politics. The Arabs were out for more money and more control over their oil (the Middle East has two-thirds of the world's supply). In the Cairo hotel lobbies, the man everyone wanted to see was a Saudi Arabian with a bright, quick smile, and a profile as sharp as a scimitar...
Native's Return. Abdullah Tariki, chief of the Saudi office of Petroleum and Mineral Affairs, is the unquestioned spokesman of the new generation of ambitious Arab experts in oil. "Absolutely incorruptible," say U.S. oilmen, who quiver at some of Tariki's ideas. "The only Arab who knows anything about the oil business...
...black-tent Bedouin who left off camel herding to study in Egypt and Texas, Tariki is often represented as anti-American (TIME, Oct. 27). At the University of Texas he got a master's degree in petroleum engineering, found an American wife, and then joined the U.S.-owned Arabian American Oil Co. at Dhahran. "I was the first Arab to penetrate into the tight Aramco compound," he said last week, "and I never saw such narrow people." American matrons took his wife aside and reproved her for marrying an Arab. Says Tariki bitterly: "It was a perfect case...