Word: suez
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Just four months after Nasser had been saved (by the U.S. and U.N.) from military defeat, and had restored to him what his armies could not hold, Nasser announced last week that as soon as the U.N. clears the Suez Canal for him, he will insist on holding control over the transport systems, the factory-output levels and the room temperatures of Western Europe...
Looking frankly past Nasser to the sort of Middle Eastern stability that might be won ten years hence, the U.S. is encouraging schemes to free Western Europe from its overwhelming dependence on the Suez Canal. Last week leaders of the oil industry met in London to draw plans for a $500 million pipeline from the Persian Gulf to the Mediterranean through Iraq and Turkey, and to examine other ways of getting around Nasser. The world's shipyards are working at capacity building supertankers to carry Persian Gulf oil around Africa at no greater cost per barrel than smaller tankers...
...Newcastle-on-Tyne and Becken-ham, but in both cases suffered a loss of votes to the Socialists. In Newcastle-on-Tyne the Tory percentage dropped by 3½%, in Beckenham by 6%. In all, the Tories have suffered losses or reduced percentages in every by-election since Suez, and since Macmillan succeeded Anthony Eden...
...Neath, chairman of Humble Oil & Refining Co., which had strongly urged a big boost in production all through the Suez crisis, now agreed with the commission that the latest increase may have been a mistake. To fill one April order of 2,900,000 bbl. of crude for Europe, Humble has found 2,500,000 bbl. readily available. In Washington, where the Administration had criticized the oil industry for supposedly failing to supply Europe with enough oil, Assistant Interior Secretary Felix Wormser told the House Interstate and Foreign Commerce Committee that U.S. oil lifters had supplied more than...
Five big U.S. producers, meeting in London with British, Dutch and French oilmen, forecast that European requirements for Middle East oil will more than double in the next decade to 300 million tons a year. Even if the Suez Canal is restored to dependable use, they reported, the canal can handle only a small percentage of the increased flow, must be heavily supplemented with new pipelines to Mediterranean tanker ports. Under study is a $500 million pipeline with 60 million tons annual capacity, to run from Iraq to Iskenderuri, Turkey. Another idea is for an internationalized Middle East pipeline system...