Word: suez
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...Gulf of Aqaba and the Red Sea. Israel would insist on a presence at Sharm el Sheikh, where it is developing a sizable community, to protect passage to Eilat. Defense Minister Moshe Dayan will fight for mutual withdrawal of both Israel and Egypt from the banks of the Suez Canal. Should the Israelis consent to a unilateral withdrawal of ten to twelve miles from the canal, however, they may insist on a proviso that if one Egyptian soldier crosses the canal, it would constitute a casus belli...
Assembly included one unexpected element. If Israel would pull back partially from the Suez Canal, he promised, Egypt would begin to repair the waterway to accommodate international traffic once more. The Russians would certainly like such a move; with the canal opened again, it would be easier to supply their growing naval force in the Indian Ocean. But Sadat was also making a studied attempt to demonstrate his new administration's sense of responsibility as a member of the world community. In some key respects, Sadat's Suez Canal offer is vague. He did not indicate, for instance...
There has been a fundamental change in the oil business. Companies used to be able to play off one country against the other by shopping around for their oil. But after the Suez Canal was closed in 1967 and the Trans-Arabian Pipeline was ruptured for eight months, demand for space in tankers rocketed and distance from markets became crucial. OPEC members, many of which are a short trip by tanker from the heart of Europe, sense that power is now in their hands, and they are taking advantage of the turnabout to settle some old scores. They argue that...
...tempting a target," General Haim Bar-Lev gently suggested. So David Ben-Gurion, 84, obediently accepted a beret and pressed it down over his distinctive white mane. That done, Israel's first Premier and Defense Minister last week followed Chief of Staff Bar-Lev on a tour of Suez Canal fortifications...
...long as the oil supplies of the Middle East seemed almost inexhaustible, consuming countries usually enjoyed a buyers' market. And Western oil companies kept prices low by playing one oil-producing nation off against another. Lately, an upsurge in demand, the closing of the Suez Canal and a rupture in the Trans-Arabian Pipeline have all but turned the market upside down. Today the sellers have more power than ever before. Oil prices are sure to rise, and negotiations began in Teheran last week to determine how high they will...