Word: suez
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Sweden, with an economy dependent on oil for half of all fuel needs (compared with 13% for Britain, and only 9% for Germany), has been harder hit by the Suez shutdown than any other European country. Raw material imports already cost 5% more; the government's budgeted $100 million surplus has turned into a deficit...
...obstructions in the Suez Canal, the Egyptians were sure that the hardest to remove would be the cement-laden Akka, which they sank midway in the canal, and the tangled wreckage of the Firdan bridge, which they dynamited and then accused the Anglo-French of having destroyed from the air. In 2½ days last week two powerful German lifting craft and a pair of tugs cleared a passage past the dynamited bridge with so little apparent difficulty that a disquieted Egyptian army officer watching from the bank remarked: "By Allah, we did not expect them to work that fast...
...subjects use for heating and cooking. As a result of declining government revenues, Cairo announced a 10% cutback in public spending. Nasser's need for the canal revenues is the best weapon the rest of the world has against his attempts to haggle too long over a Suez political settlement. At week's end, in the usual Egyptian style, the Cairo newspaper Al Ahram announced that Egypt would negotiate with Britain and France only if new governments took over in those countries and apologized to Egypt for their predecessors' misdeeds...
...also, Der Spiegel's cockiness has hardened into habitual choler. The magazine is more often against than for; it opposed NATO, European union, West German rearmament. Augstein's editorials have frequently been critical of "rigid" U.S. foreign policy, but Der Spiegel approved of the U.S. stand on Suez, argued that the more "fluid" U.S. foreign policy that resulted lessened the danger of war and improved the outlook for German reunification...
...increase, which will affect consumers the most, started after Humble Oil failed to persuade the Texas Railroad Commission to raise state oil output to meet the big European demand brought on by the closing of the Suez Canal (TIME, Jan. 7). To get the oil it needed, said Humble, it had to raise its bidding price for crude by 12%. This put pressure on competitors, brought an immediate increase from Continental Oil, with the others expected to follow. By week's end oilmen figured that the increases would cost U.S. consumers an extra $1 billion for petroleum this year...