ARAB-EUROPEAN RELATIONS - Jan. 1 - UK Spy Chiefs Feared US Invasion Of Saudi In 1973.Files released to the British National Archives National Archives, official depository for records of the U.S. federal government, established in 1934 by an act of Congress. Although displeasure concerning the method of keeping national records was voiced in Congress as early as 1810, the United States continued under the 30-year rule for classified documents show the UK intelligence agencies believed the US was ready to invade Saudi Arabia Saudi Arabia (sä `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. and Kuwait to prevent further
disruption to oil supplies as Arab states during the October 1973
Arab-Israeli (Yom Kippur) war decided to slash oil exports as a weapon
against Israel's OECD OECD: see Organization for Economic Cooperation and Development. allies. The Arab oil weapon, including a
complete embargo on the Americans over their support for Israel, caused
world oil prices to quaduple by end-1973. In Britain, PM Edward
Heath's Conservative government, which adopted a more pro-Arab
line, was forced to draw up plans for gasoline rationing after panic
buying Panic BuyingHigh volume buying brought about by sharp price increases. Notes: The main problem with panic buying is that investors are not evaluating fundamentals. Instead, they are blindly buying before prices rise even more. led to shortages at filling stations. Although the Arab-Israeli war was over after 3 weeks, a secret assessment drawn up for UK government ministers by the Joint Intelligence Committee (JIC JIC Just In Case JIC Joint Intelligence Committee JIC Joint Information Center (US government) JIC Jewelry Information Center JIC Joint Intelligence Center JIC Joint Industrial Council JIC Justice Information Center ) - including the heads of MI5 and MI6 - concluded the US would rather risk military action than be held to ransom again by the Arabs. The report, dated Dec. 12, 1973 and marked "UK Eyes Alpha", described the seizure of the oil-producing areas in the region as "the possibility uppermost in American thinking". |
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`dē ərā`bēə, sou`–, sô–)
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