Word: mideast
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...King Feisal of Saudi Arabia, the biggest Mideast producer, at first decreed a 10% cut in output. But by week's end, as the war seemed to be going against the Arabs, he announced a total ban on oil shipments to the U.S. Presently, 3.4% of the crude oil consumed daily by the U.S. comes from Saudi Arabia. Libya, Algeria and Abu Dhabi also announced embargos...
JAPAN has to import almost all of its oil, 82% from the Mideast. Surprisingly, the Japanese are fairly calm, largely because they believe that they can negotiate special deals with the Arabs. Perhaps they can, but the deals would be swung at the expense of U.S. and European supplies, and of higher prices for the Japanese consumer...
Last week, the State Department announced that Secretary Henry A. Kissinger '50, was forced to postpone this year's fling to the People's Republic of China because of pressing needs for his expertise in resolving the Mideast war and, by corollary, preserving the U.S.-Soviet detente...
...knew something was going to happen," Downey said. "There were lots of little clues like the Mideast war, the firing of Cox and Richardson, and the rising price of submarine sandwiches at Elsie...
...program starts out under two heavy handicaps. The first is that in order to keep from shivering this winter, the U.S. will have to import huge quantities of heating oil from Europe; but Europeans, worried that the Mideast war will cut off their crude-oil supplies, may not make the fuel available. Already Italy and Spain have clamped strict controls on heating-oil exports...