Word: iranians
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Dates: during 1950-1959
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After a summer of doldrums and defeats-Geneva, Indo-China, the death of EDC-the democracies had suddenly rallied and rolled out some new and hand some diplomatic field-pieces: the all but completed Anglo-Egyptian settlement over Suez, the Anglo-Iranian oil agreement, the harmonious partition of Trieste and, above all, the potentially history-changing Act of London. With this quick parade of successes, the Atlantic alliance seemed to recover the ground, and the spirit, that were lost with EDC. Europe, with the potent help of the U.S., had produced a new plan to rearm the West Germans...
...ring was set up not only to spy but to start a rebellion at the proper moment, with its agents so placed as to be able to assassinate the Shah, the Premier and other key figures. It had an accurate picture of the strength and disposition of the entire Iranian armed force, including an itemization and location of all U.S.-supplied equipment. Tragically enough, some of the ring's most useful informants were not Reds but pro-Mossadegh officers suckered into what they thought was a simple plot to overthrow Premier Zahedi's year-old regime...
Hoover Jr., found a happy solution. Last week's pact in effect recognizes the transfer of full title of the British-built billiondollar industry to the Iranian government, at a cost to Iran that is a fraction of its real value. This should mollify Iranian nationalists. For giant Abadan, the world's largest refinery, and its huge network of affiliated production facilities, the Iranians will pay Anglo-Iranian a mere $70 million in compensation...
Britain's Reward. But in fact, Britain will get a lavish return for its lost oil investment. The real compensation to Anglo-Iranian will be borne by the other seven oil firms joining the consortium. For the privilege of a share in exploitation of Iranian oil, the seven (including America's Jersey Standard, Gulf, Texas, Socony Vacuum and Standard of California) will pay Anglo-Iranian about $600 million. In addition to this compensation, Anglo-Iranian, with a 40% interest in the new consortium, will still be the dominant oil operator in Iran. So Anglo-Iranian has cause...
...world shortage of oil. Since then, other producers have more than made up Iran's loss, and currently there is a market surplus of oil. Some of the nearby oil-producing countries will have to cut back production to make room for Iran. Most of the Iranian production will go, as it did before, to Asian markets...