Troubled Oil
January 3, 1952 — The Buffalo Courier-Express

The Mossadegh Project | June 30, 2015     

The Buffalo Courier-Express editorial on the World Bank role in the AIOC dispute — Thursday, January 3, 1952.

International Bank Holds Hope
Of Settling Iranian Oil Crisis

A ray of encouragement in the Iranian oil mess is provided by entrance of the International Bank for Reconstruction and Development into the situation.

Representatives of the bank are in Iran and have been informed by Premier Mossadegh (who has been chosen by the news magazine Time as “man of the year” because he “oiled the wheels of chaos”) that he welcomes the bank’s effort to find at least a temporary solution of the oil crisis and hopes it will succeed.

The bank, Premier Mossadegh was informed, is considering the possibility of setting up a temporary organization neither Iranian nor British, to operate the huge Abadan refinery and finance production and sale of oil. Iranian oil production has been at a standstill since Premier Mossadegh nationalized the Anglo-Iranian Oil Co. and by so doing sacrificed Iran’s oil revenues.

So far, nobody has made progress in abating the deadlock between Iran and Britain over solution of the many problems developed by the nationalization policy.

But the Western powers need Iran’s oil, and Iran obviously needs the oil revenues.

Inasmuch as the International Bank could manage matters with a saving of face and tangible benefits for both parties to the controversy, it’s about time a mutuality of interest brought about some constructive action toward achieving a settlement.

Related links:

More Details Wanted.The Times Record, February 15, 1952

IRAN: Happy New YearTIME magazine, March 24, 1952

Collapse Faces Oil-Rich Iran While Neighbors Coin MoneyBuffalo Courier-Express (1952)

MOSSADEGH t-shirts — “If I sit silently, I have sinned”

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