Word: saudi
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Dates: during 1990-1999
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...peace with Israel, Jordan a de facto one. Lebanon is struggling after 16 years of civil war. Iraq is prostrate. And the Palestinians are virtually without patrons. The threat of an oil embargo that could paralyze the U.S. seems distant, given Washington's strong post-Desert Storm ties with Saudi Arabia. Even the hostage crisis is subsiding...
...threat also remains real. U.S. links to Arab oil-producing states, strengthened during the gulf war, could weaken again if hostilities with Israel flare anew. The U.S. survived the disruptions of Kuwaiti and Iraqi oil shipments during the gulf war by tapping into stockpiles and benefiting from a Saudi boost in production. That experience has done nothing to convince Americans that they need to fashion a new, conservation-oriented energy policy; U.S., as well as European and Japanese, dependence on Arab oil remains acute. Warns a British diplomat: "Anyone who suggests that the West, including the U.S., doesn't need...
...financial connection has caused the Administration some discomfort, most notably last fall when reporters asked whether the young Bush's gulf investment had any influence on his father's decision to send troops there. Said Bush's son last October: "No, I don't feel American troops in Saudi Arabia are preserving George Jr.'s drilling prospects. I think that's a little farfetched...
...year after Bush came aboard, a reclusive Saudi named Abdullah Taha Bakhsh bought an 11% stake in Harken through a Netherlands Antilles shell company. The Saudi, a tycoon with global interests in oil, real estate and jewelry, hoped Harken could someday serve as a vehicle for moving Saudi crude into the U.S. But the strategy would never come to pass...
...1980s, Harken was bloated and indebted, but it won a windfall. Bahrain, which produces a mere 42,000 bbl. of oil a day (Saudi Arabia's output: more than 8 million), decided to hunt for more crude. In 1989 Bahrain officials suddenly and mysteriously broke off promising talks with Amoco. One minister then telephoned an old friend, Michael Ameen, the respected former head of Mobil's Middle East operations. "They wanted a small American company," claims Ameen, who says he drew a blank. But 10 minutes later, Ameen got a call from an investment banking friend in Arkansas, who recommended...