Wreck Of The Alamo

Oil was selling for more than $50 a barrel at the height of the Arab embargo. The Alamo– an American-owned super tanker with 500,000 tons of Iranian crude in its hull went aground off the Normandy en route to Rotterdam. Premiums for tanker insurance had skyrocketed while the prestigious House of Lloyds was rotting from greed. The English economy was on the ropes, and the Brits courted the deep pockets of the Arabs to keep its economy afloat.

Orchestrating public opinion on the eve of Israeli...