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    "ocrText": "5/15/54: Reel 4, Track 2, Page 4\nto make an enormous investment in tankers to take it across the Caspian\nMR. NITZE: (?) Well, this has a bad effect on the Iranian position; what effect does this\nhave on the British position? They're the ones who won't get paid; in some\nof course the payment itself is unimportant but with respect to\ncases maybe/tirks the principle maybe it's worthwhile\nfrom their point of view having held the line, even though they don't get a\nnickel out of it, but what is the effect of it on them--I mean in terms of\nthe possible settlement? This property itself is going downhill.\nMR. ACHESON:\nI should think that the British would not lose. If you can imagine the\nearth opening up and swallowing all the oil in Iran, I think the British\nand\nwould be just as well off.\nMR. McGHEE:\nI think Anglo-Iranian are making as much money today as they ever have.\nMR. GRAHAM:\nTheir markets (confused)\nMR. MeGHEE (?) :\n....in Kuwait, from the standpoint of crude.\nMR. HARRIMAN:\nI think the British have lost, because the racketeers(?) are taking part of\nit in Kuwait but still others have; they've lost a good deal by it.\nMR. McGHEE:\nI think their stated profits now are the highest in history.\nMR. HARRIMAN:\nThe world as a whole hasn't suffered from it; it did for a short period.\nMR. McGHEE (?)\nThey suffered acutely during the period they were buying dollar oil and\nexpensive pipes\nMR. HARRIMAN:\nFor a short period.\nMR. MeGHEE:\nBut they Ive replaced most of the refining capacity in crude now, I believe,\nquite satisfactorily. They would like to recoup samething from this invest-\nment they have, of course, and under this new arrangement the companies\nwould acquire what virtually is in Iran the position of a concessionnaire\nto other courtries, although under the name of nationalization, will give\nAnglo-Tranian s'ame comepnsation-the amount, I don't know. I think it's\nworth pointing out here the position of the Anllo-Iranian Oil Co. in this\nS\nthing; I honestly think that one of the principal reaons for this whole\ndifficulty was the anachronism in the British government which ves the"
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