Word: somes
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Dates: during 1970-1979
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The days are gone when Saudi Arabia, by far the biggest producer with 30% of the cartel's output, was able to exert a moderating influence. More and more cartel members, and even factions in the royal family itself, view the desert kingdom's traditional support for the...
*In 1979, the U.S. will spend some $62 billion on imported oil, an average of $800 per American household.
Pressure is mounting on Chase in Europe to reconsider and reverse the default. One reason: the bank apparently did not tell its European partners that Iran had asked for a transfer of its funds to pay the interest on the loan, but that this payment had been blocked by President...
West German bankers have been particularly angry. Morgan Guaranty, one of Chase's U.S. partners in the defaulted $500 million loan, went into a German court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a...
Though some of its oil competitors criticized Getty for giving in too easily, President Sidney Petersen signed the consent decree at least partly to avoid long litigation and a public relations black eye. Still hanging over the company are more DOE claims of at least $160 million for other alleged...