Word: consortium
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...with its oil and farm produce, would have remained largely a provider of raw materials. Rumanian Communist Boss Gheorghe Gheorghiu-Dej, wanting industries of his own, said no to Nikita. Looking outside the Soviet bloc, he proceeded to purchase iron ore from India and turned to an Anglo-French consortium for a $40 million steel-rolling mill plant at Galati, in the heart of Rumania's budding industrial region. Soon Rumania's trade with the West rose from 15% to 40%. Now there are signs that, in order not to leave the field entirely to the West, Moscow...
...Soviet Union has somewhat suddenly emerged as the world's second largest exporter (after South Africa), the big influx of Communist gold has failed to upset the West. Actually, the Soviet gold is welcomed by the U.S. Federal Reserve and European central banks, which have formed a consortium-called the London gold pool-to buy up gold as it comes on the market. Reason: the new supply of Soviet gold has eased the West's acute gold shortage and helped stabilize the free market price of gold at very near the official U.S. price of $35 per ounce...
...that Congress would not approve appropriations for both the poverty program and the SST at the same time-particularly since the aviation industry is balking at paying even 10% of the SST cost. He therefore chose to delay the SST. The U.S. is already far behind the Anglo-French consortium, which expects to put its Vlach 2 Concorde into commercial service in 1971. U.S. aviation industrialists now hope that the President has heard heir mayday cries and will see fit to put the U.S. SST program back on he runway...
...started off the Dutch coast, but the biggest pockets of gas are now thought to lie in the waters off Germany. Bonn's Ministry for Economic Affairs has more than 25 requests for permission to drill in German waters, including one by the German-American North Sea Consortium that includes Socony Mobil, Indiana Standard and Esso. The consortium is prepared to spend $25 million this year and next drilling for gas off the German coast, and will soon start to drill near the island of Borkum...
...Disputatious. The trouble is that the consortium already has permission to drill from the coastal states of Lower Saxony, Schleswig-Holstein, Hamburg and Bremen, whose right to grant such permission is now hotly disputed by Bonn. An even thornier question is how to divide mineral rights between Germany and Holland, as well as among Denmark, Norway and Great Britain, all of whom front on the North Sea. Hope that these five nations could deal objectively with the issue looks dim. "It seems to us that countries that in past ages have had only trouble from the sea," said Rotterdam...