Word: saud
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...OPEC's oil, holds the key to any agreement that would keep prices from plunging still further. The Saudis could dry up the supply glut singlehanded by slicing their output, now at about 7.5 million bbl. per day, to 5 million bbl. But the House of Saud cannot go below 6.2 million bbl. per day without dipping into capital reserves to finance a variety of ambitious construction and industrialization plans. The Saudis are also reluctant to step out on a limb within OPEC. Says Lawrence Goldstein, research director of the Petroleum Industry Research Foundation: "If the Saudis cut, they...
...sword carriers, I was taken to a tremendous hall. Dozens of men (women being strictly segregated) in identical black robes and white headdresses were seated along the walls, immobile and silent. What seemed like 100 yards away on a slightly raised pedestal sat King Faisal ibn Abdul Aziz Al Saud, aquiline of feature, regal of bearing. He rose as I entered, forcing all the princes and sheiks to follow suit in a flowing balletlike movement of black and white. He took one step toward me; I had to traverse the rest of the way. I learned later that his taking...
...last week, carrying with him a sheaf of proposals aimed at strengthening Washington's ties with moderate Arab states. His main port of call was Saudi Arabia, where he spent four days in talks with the influential Crown Prince Fahd, Defense Minister Prince Sultan and Foreign Minister Prince Saud al Faisal. By the time Weinberger left the country, after a negotiating session that lasted almost all night, the principal mystery was why it had taken him and the Saudis so long to agree to so little...
...false sense of security was shattered by the Iranian revolution which resulted in a loss of more than 6 million bbl. daily on world markets and pushed the price of oil from $12.50 to $34 per bbl. Veteran oil industry watchers are always nervous that a comparable upheaval in Saud Arabia would cause even more dramatic price increases, and have even more disastrous consequences for Western economies. Thus the curren oversupply of oil should be used by the West as an opportunity to decrease further its dependence upon OPEC rather than as an excuse to ignore an energy crisis that...
...exaggerators, none surpasses the Arabs, whose language is a symphony of poetical excess. A Cairo gas station attendant greets his co-workers in the morning: "May your day be scented with jasmine." Sometimes the exaggerations that are inherent in Arabic can be dangerous. Saudi Arabia's late King Saud once told a visiting group of Palestinian journalists that "the Arabs must be ready to sacrifice a million lives to regain the sacred soil of Palestine." It was rhetoric, a flourish; Arabs hearing it would no more take it literally than would an American football crowd hearing...