Iranians and most westerners call it the Persian Gulf. Arabs prefer the term "Arabian Gulf." Yet if present trends continue, we may all someday be calling it the "Russian Gulf." Potential Soviet involvement in the strategic Gulf area could significantly affect the world balance of power. Few Americans realize where the Persian Gulf is, much less the significance of this vital piece of real estate to their own economy. For, under the waters and lands of the Persian Gulf lies a vast sea of the "black gold" which in 1970 supplied 28 percent of all the oil used in the world, and furthermore holds a phenomenal 62 percent of all the world's proven petroleum reserves.
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