Word: suez
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...talking as if the U.S. and not the British-French were responsible for the Suez catastrophe when the U.S. had striven desperately to prevent it, even Mike Mansfield left himself open to the counterblast of Wisconsin's Alex Wiley that the patently anti-Dulles nature of the stalling on the crisis was "blatant, befuddled badgering," and that the U.S. people would so judge...
...attacking to cover their own confusion, the Socialists pulled their surprise. Blue-suited for the TV cameras but wearing a red tie for old Socialism's sake, Party Chairman Erich Ollenhauer had himself one of the best days of his parliamentary career. Carefully endorsing the U.S. stand on Suez and Hungary as "prudent," he announced that Socialists favor honoring Germany's treaty obligations "including those of a military nature," i.e., in NATO. Abandoning another longtime Socialist position, the party now accepts a standing army...
...ignoring Nehru, Asia's only true spokesman. Left-wingers saw in Nehrunian "noncommitment" an idealistic answer to U.S. massive retaliation. British opinion began to change when Nehru's U.N. delegates regarded a discussion of Hungary as an unworthy diversion from the serious business of condemning the Suez invasion...
...grip last week of an oil-production shortage that kept it from shipping enough oil to Europe and reduced domestic reserves to dangerously low levels. On its post-Suez promise to deliver 500,000 bbls. of crude oil daily to Europe, the U.S. has thus far made good on an average of less than 300,000 bbls. daily. To make the situation worse, much of the oil has come from U.S. reserve stocks, which have dropped from 284 million bbls. to 254 million bbls. since the beginning of November, and are now below the minimum set by the Interior Department...
Everyone hopes that the current troubles add up only to a short-range problem. Barring political complications, the Suez Canal should be open for shallow-draft tanker traffic by March 1, will probably open completely by mid-May. Oilmen are also hopeful that the sabotaged Iraq Petroleum Co. pipeline traversing Syria from Iraq to the Mediterranean can soon handle 40% of its former capacity. But it may still take months before the flow of oil is back to normal. Even if the canal clearance proceeds on schedule-and the Egyptians do not decide to keep it closed after...