OIL: Not So Fast

How much is it worth to have the President's ear? Two and a half months ago a sympathetic Manhattan jury decided that if the whisperer was Oilman James A. Moffett, it was worth plenty. The jury awarded the onetime FHAdministrator a fat $1,150,000 judgment in his suit against Arabian American Oil Co., Inc. for certain "services rendered" (TIME, Feb. 28). The services, according to Moffett, were very special. Saudi Arabia's King Ibn Saud had demanded an extra $6,000,000 a year from Aramco in 1941, on the threat of tearing up its multi-billion-dollar concession in his country. Moffett claimed that...

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