Word: petroleum
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Dates: during 1990-1999
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...annex Saudi Arabia, a dubious prospect at best, Hussein certainly would not ruin the world economy. Oil sales are a way of getting hard currency, which is what Saddam Hussein wants (to finance Iraq's debt). He certainly wants to sell oil, and excessive oil prices would force petroleum importers to tap other sources of energy, ruining the Iraqi oil economy...
...Kuwaitis, the staggering fortune their nation has accumulated, and particularly the way it has been invested and saved, is a matter of pride. With 94.5 billion bbl. of oil in the ground, enough for more than a century of production, Kuwait boasts the world's third largest proven petroleum reserves. But unlike other nations, which spend their oil revenues almost as fast as they come in, Kuwait long ago decided to save for the future. So successful has the effort been that for some years before Saddam's perfidy, Kuwait was reaping more yearly income from its overseas investments than...
While Kuwait's investments bring in about $20 million a day, the economy-in- exile is driven by another engine as well, the Kuwait Petroleum Corp., the world's 12th largest oil company. From its London office on New Bond Street, KPC and its subsidiaries own and operate a fleet of tankers, oil and gas exploration companies in 22 countries on five continents, and 6,500 Q8 gas stations situated throughout Europe...
...Khalifa who designed many of Kuwait's successful investment strategies, and Khalifa who reorganized Kuwait's oil industry following the government's 1975 takeover of the Kuwait Oil Co. -- a joint venture of Gulf Oil Corp. and British Petroleum. And now, to no one's surprise, it is Khalifa who is at the center of his country's most ambitious effort: the attempt to reinvent Kuwait. If implemented in its entirety, the intricate and politically tricky plan could transform the demography, character and economy of what everyone involved is calling New Kuwait...
...Tower -- it looms like a gigantic iceberg in 412 m (1,353 ft.) of water, only its top-deck production facilities visible above the water. Chevron is planning a big project nearby. Southeast of New Orleans, Exxon is operating a 110-story platform, and a few miles away British Petroleum is erecting its own 100-story behemoth...