Word: suez
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...country's security. Since the October war in 1973, Jerusalem has spent $60 million fortifying nature's own impressive defenses, honeycombing the black granite with miniforts and electronic gear that can detect MIG planes preparing to take off from Egyptian fields on the other side of the Suez Canal...
...Israel would give up the Abu Rudeis oilfields on the Gulf of Suez. The fields now pump 36.5 million bbl. of oil a year, roughly 50% of Israel's total domestic needs. Without the crude, Jerusalem would be even more dependent than it is now on its chief foreign supplier, Iran, which has been growing increasingly critical of Israeli policy in recent months. The cost in foreign exchange would be $350 million per year, a critical sum for a country that is already running a deficit of $3 billion...
...would be considerably widened to an average width of 30 miles. This would greatly reduce the threat of accidental clashes between the two armies. Israel would pull back approximately 25 to 30 miles from its present "Blue Line," and Israeli guns would be 25 to 45 miles from the Suez Canal, out of range of Egypt's vital waterway and the new settlements President Sadat plans to establish on its banks. The lines would be drawn, however, so that Israel would retain the big Bir Gifgafa airfield...
...Egypt, under an unpublished part of the pact, would pledge to renew annually for three years the mandate of the U.N. Emergency Force now in the buffer zone. It would also allow Israeli cargoes through the Suez Canal, soften its anti-Israel propaganda, pledge not to support efforts by other Arab states to oust Israel from the U.N., and temper its current economic boycott of firms doing business with Israel. Sadat, of course, has already reopened the Suez Canal and twice extended the mandate of the U.N. buffer force. Under the same unpublished codicil, Israel would apparently accept the principle...
Egypt's gain from the settlement would be much more obvious. It would get back some of its territory and a new domestic source of oil at Abu Rudeis, which would increase Egypt's production by about one-third and allow it even to export oil. The Suez Canal would be a little farther away from the muzzles of Israeli cannons. Sadat might even be able to begin thinking about reining in his defense expenditures, which now devour $2 billion, or 25% of the gross national product (v. $3.6 billion, or 30% for Israel). Sadat is hard-pressed...