Word: mideast
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...obviously unfortunate when the vice president of the United States turns out to be corrupt," Lipset said. "But I think this, combined with the Mideast war, will go a long way to taking Nixon off the hook...
...offensive with a dramatic move. Of course, he could start another war, but I wouldn't recommend it. I would have saved the trip to China, if I knew last year about Watergate, but he still has a couple of areas left for dramatic moves, like the Mideast or inflation...
...Arab bankers stress that their main aim is to channel into long-term investments a growing share of the oil money flooding the Mideast ($12 billion in 1971, an estimated $60 billion a year by 1980). Says El-kaissouni, a graduate of the London School of Economics: "This kind of mixed Arab-European bank is a way for the Arabs to have a greater share in the management of their funds and a greater participation in the profits." He also sees the banking partnerships as a triangle involving "the technical financial skills of Europe, the capital of the Arabs...
...coast. By contrast, much Persian Gulf oil must now be hauled 11,000 miles by tanker around Africa before it reaches Europe. Fuel from the North Sea promises to supply 10% to 15% of Europe's energy needs by 1980-not enough to materially reduce dependence on the Mideast, but perhaps sufficient to enable the Continent to survive a brief shutoff of Mideast...
...expensive that capital costs of drilling average 20 times higher than those encountered on land in the Middle East. Still, savings on transportation costs and taxes will enable oil companies to earn an estimated $1-a-barrel profit on North Sea oil, or considerably more than they get on Mideast oil delivered in Europe...