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ing Ibo Saud as the legitimate ruler.
With bis sword and military prow–
ess, Ibn Saud became ruler over a
vast chunk of Arabian real estate. In
1930, American interests obtained
concessions in Bahrain, and, on
May 29, 1933, the concession agree–
ment was signed that brought
American money and know-how
into the Persian Gulf.
Since the m id-1930's, the
United States has been
dominaot in the oil re–
gions of the Middle East.
The Recent
Crisis
James E. Akins, State
Department senior ex–
pert on energy, points
out in
Foreign Affairs
that proveo oil reserves
in the non-communist
world amount to roughly
500 billion barreis, of
which at least 300 billion
are in Iran and Arabic
countries. However, all
Arab countries do not
have vast reserves of oiL
Jordan, Lebanon , Tu–
nisia, Morocco, and Ye–
men have very Iittle.
figure. What does
this
astounding
economic fact mean to the Uoited
States aod the Westero world?
King Faisal of Saudi Arabia,
formerly one of the stauochest
frieods of the United States in the
Arab world, a proponen! of moder–
ation and a man who is the mortal
enemy of Communism, has repeat-
edly said the Arabs should not use
oil as a political weapon and
claimed that he himself would not.
In 1972, however, other Arab lead–
ers issued fifteen different threats
that they would use oil as a weapon
against their "enemies," of whom
they singled out the United States as
number one.
During the October
war, King Faisal was put
on a veritable hot seat by
the United States, since
i t clearl y and co n–
vincingly suppo rted
Israel with arms and
supplies during the fight–
ing. King Faisal had
been imploring the
United States to moder–
ate and modify its pro–
Israelí foreign policy for
years. When the war
broke out, his elforts
seemed to be for nought.
As a loyal Arab, he felt
compelled to cut off oil
production to the United
States, and thereby
prove his allegiance to
the Arab cause.
The proveo reserves of
Saudi Arabia are often
listed as 150 billion bar–
reis, but one company
with extensive experi–
ence there estimates that
proveo reserves are over
twice that amount and
that probable reserves
could even double that
Keystone
KING FAISAL
of Soudi Arabio led Arob oil boycott ogoinst
The Arab world knows
that it has the developed
Westero nations and Ja–
pan over an oil barre!.
Since produc tion ha s
been cut, prices have
soared , thus com–
pensating the oil-rich
Arab countries, to a
large extent, for the drop
tn production.
1
n an
the West.
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10
PLAIN TRUTH February 1974