Word: throughs
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Dates: during 1970-1979
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Today Contadora is Panama's star resort, with a government-owned casino and 210-room hotel (average room price: $70 a day). About 80 weekend homes owned mostly by wealthy Panamanians dot the beaches and hills. Palm, papaya and banana trees shade the island, and peacocks and deer roam...
While Venezuelan air force helicopters whirred in the sky above and 5,000 soldiers patrolled on the ground below, armed motorcades wound through the clogged streets of Caracas. It was a typical Panavision entrance for the 13 oil ministers of the Organization of Petroleum Exporting Countries. The price-fixing cartel...
Midway through the fourth day, the ministers called it quits. An exhausted Yamani pledged to hold Saudi prices firm at $24 per bbl., but he was well aware that the survival of the cartel was now in question. Said he, trying to put the best face on his defeat: "There...
With OPEC in disarray and vulnerable, bold action by oil-importing nations to cut their dependence on foreign petroleum cannot be easily countered by cartel members. Operating through OPEC, their monopolistic, price-propping has placed an enormous and continuing burden on oil consumers everywhere. Economist Otto Eckstein, president of Data...
The Islamic revolution in Iran has sent out shock waves of confusion and distress throughout the monarchies of the Middle East. A state of jitters prevails in the Arabian peninsula, whose petroleum exports are vital to the security of the U.S. and its allies. The rulers of Saudi Arabia, the...