Word: swap
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Dates: during 1970-1979
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...seemed more surprised by the unprecedented swap of political prisoners than Corvalán and Bukovsky. Until Thursday of last week. Bukovsky had been immured in the infamous Vladimir Prison in central Russia. Moved on Friday to a Moscow jail, the Russian began to suspect that something was afoot. But not until he was placed aboard a specially chartered Aeroflot jet bound for Zurích did he know that he had been freed. Bukovsky's mother Nina, his sister Olga and his nephew Mikhail were also flown to Switzerland to join him in exile. Simultaneously, Corval...
Unfolding Mystery. Negotiations for the swap had been carried out under tight security wraps. As the mystery unfolded last week, the U.S. Government acknowledged its crucial role as intermediary between Chile and the U.S.S.R., which have no diplomatic relations. Last month the Chilean junta, anxious to polish up its image in Washington, released about 300 political prisoners, while holding on to Corvalán for an exchange that would have dramatic public relations value. Washington suggested that Bukovsky would be a candidate for a swap. Acting as go-betweens in discussions between Chilean and Soviet diplomats in Washington were...
Sohio's oil could be shipped to Japan and swapped for Middle East crude that would be diverted across the Atlantic to East Coast ports. Such a swap, in an industry that operates on a global scale, would not be unusual, and California's Quinn says it deserves "serious consideration." But the main reason for building the pipeline, after all, was to reduce initially the nation's reliance on foreign oil by about 7%, or 1.2 million bbl. per day, and for that reason Congress expressly prohibited the foreign sale of any Alaskan crude...
Global Glut. But the swap raises significant problems for the American companies. The oil would go not to the defense contractors but to a refiner for processing and sale. The refiner must be willing to 1) accept the crude, and 2) set a firm price for it with the U.S. aircraft manufacturers. Finding such a customer will be difficult; there is a global glut of oil, and even tiny fluctuations in price can cut sharply into refinery profits. But the task is not impossible. Several independent oil companies that have lost access to Canadian oil since Canada cut exports...
...complications can be worked out-a big if-the swap will provide few surprises for the Iranians. They have been bartering raw materials for industrial products ever since the 1930s. But it would be a whole new way of doing business for the defense contractors. Only McDonnell Douglas has had a similar experience. In 1969 Yugoslavia wanted to buy DC-9s, but did not have enough dollars. So McDonnell Douglas agreed to help by marketing Yugoslavian goods, including hams, in the U.S. For years thereafter, the standing joke in the company's executive dining room was: "Here come...