Word: berm
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Dates: during 1940-1949
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...Bermúdez' hunch was that Mexican oil reserves would be needed by the U.S. in case of another war. But most U.S. companies have refused to go back under the poor terms offered by Pemex, the government oil monopoly. Hat in hand, Bermúdez has had to ask the U.S. to put up $200 million for an oil development loan...
Last week Bermúdez' hole card looked more like a trey than an ace. Mexico's oil is not "vital" to U.S. defense, a consultant told the State Department. The consultant was Max W. Ball, a one-time director of the Oil and Gas Division in the Interior Department. Ball reported that Canada, where U.S.-controlled oil companies have already made rich discoveries, "offers more alluring prospects, geologically and politically, than Mexico...
...Bermúdez' extraordinary action went back to one day last December, when, hot-tempered Union Boss Jorge Ortega tossed one of his lightning strikes at the new Alemán Government. Unlike its predecessors, the Alemán Government struck right back. Soldiers rode gas trucks, broke the strike. A more compliant leader took Ortega's place. But Pemex was still cluttered with an accumulation of political hacks dating far back to other administrations. Antonio Bermúdez, working 12 to 14 hours daily, laid careful plans. Last week, with President Alemán's support...
...days, will go some 4,000 "emergency" field laborers. Out, too, will go 200 so-called "confidential employees" attached to the central office. The union agreed to the firings partly because it lost last year's strike, partly because it knew that the Government was solidly behind Berm...
...saved in salaries Bermúdez hopes to plow back into badly needed new equipment. Most important of all, he expects his move to galvanize Pemex's notoriously lethargic working force. "We have more oil than Venezuela, and it is our job to get it up. ... When I get through," he says, "every man in Pemex is going to be on his toes, anxious to win a good record and improve the organization...