IRAN: Back to the Oilfields

Forty-two months ago, stirred by the weepy fanaticism of Mohammed Mossadegh, Iran’s Parliament voted to drive foreigners from Iran’s oilfields. Last week, with neither tears nor cheers, it agreed to ask them back. The Senate approved 41-4 a bill already rushed through the Lower House. In return for turning over control of Iran’s oil production and marketing to an eight-company foreign consortium, (American, British, Dutch and French companies), Iran will get a 50-50 profit split, which should yield it a badly needed $420 million in the first three years.