Word: petroleum
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Dates: during 1970-1979
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...kind of first step in contingency planning, however, the U.S. was quietly asking several other oil-producing countries whether they would be able to increase their petroleum output in case Iran's production dwindled even further than it had already. At week's end a strike by oil workers had cut the country's normal daily production of 6 million bbl. to about half that total. Then, at the suggestion of National Security Adviser Zbigniew Brzezinski, the President invited George Ball, an Under Secretary of State in both the Kennedy and Johnson administrations, to join the National...
...Confronted with an urgent need for imported petroleum, the Premier flies off to the Middle East to cement Italy's relations with the oil-producing states. After a four-country tour, he succeeds in fostering several economic deals with Libya and Iraq...
...least six U.S. oil firms, including Exxon, Phillips Petroleum and Union Oil, have sent top-level delegations to Peking to discuss possible joint ventures. The theme of all the talks was the same: China would own any oil that was found, but the firms, in exchange for their technological expertise, would win the right to buy some oil at below OPEC prices...
Will the leaders of the next oil superpower be wearing sombreros instead of desert kaffiyehs? Mexico became a net exporter of petroleum in 1975 as a result of discoveries of big deposits in the southern regions east of Veracruz, and since then, one leading U.S. energy analyst says enviously, "the Mexicans have been finding oil as fast as they put holes in the ground." Last week Jorge Diaz Serrano, head of Pemex, the government oil monopoly, announced the discovery of a new field that he says may contain up to 100 billion bbl.; that would be more than half...
...Shah's ambitious modernizing programs created a new-rich class in Iran; many of these people have left with their money. Now he must make himself credible to millions of Iranians who did not share in the country's petroleum-fueled prosperity. At the moment it is doubtful whether in a free referendum he could win a majority to remain as monarch. Still, few can envision Iran without a Shah of some kind or other. "If this one should go," says an Iranian intellectual, "there will soon be another to take his place...