Time Essay: The U.S. Should Soak Up That Shower of Gold

The US. Should Soak Up That Shower of Gold

Americans were more intrigued than alarmed two years ago when Saudi Arabia's Minister of Petroleum and Mineral Resources, Ahmed Zaki Yamani, suggested a historic reversal of national roles. Yamani proposed that Saudi Arabia be permitted to spend its increasing oil revenues by buying into refining and marketing facilities in the U.S., which has always prided itself on exporting capital, technology and management. His idea provoked a dour response from Washington, but it was at least followed by a rash of American humor. Cartoons showed robed Arabs manning Stateside gas pumps and a...

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