Word: crude
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Dates: during 1930-1939
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...tanker-is rapidly lifting her cargo of Venezuela crude. A muffled, methodical, pumping, pumping, pumping sound, and a shimmying, twelve-inch, flexible, metallic, rubber hose, extending overside from her pipe line on deck to a connection on the dock, is all that is evident as this 100,000-barrel monster serenely discharges herself of a valuable oil cargo, and pumps it into storage tanks on shore, from where it goes to the stills and eventually becomes...
Totally unexpected, "the best day in over a year" came to oilmen last week. Giving the day its supremacy were two items. First was the raising of crude prices by Standard of California, then by other producers of the State. Second was the upholding of the California natural gas conservation law by the Superior Court of Los Angeles. Both actions may have far-reaching effects. Standard's move, first advance in California since August 1928, was said to be in the nature of a reward for producers who have cooperated in curtailing production, but it started reports that other...
...industry was Oil, in which overproduction of crude has led to overproduction of gasoline. To solve this, the Federal Oil Conservation Board suggested that in Texas, Oklahoma and California, refining schedules be cut down to six days a week. Standard Oil of New Jersey with its subsidiaries was the first to agree to this plan. Other companies were as vexed with Standard for this acquiescence as they were by Standard's recent price cut on crude oil (TIME, Jan. 27). From many an oil refiner came protests against this snuffing of refinery flames...
...lead to "almost insurmountable technical and legal difficulties." As a reprimand to Standard of New Jersey, Mr. Holmes went on: "We believe that the general spirit of cooperation within the industry that was and is followed by producers should have influenced the principal purchasing companies to attempt to maintain crude prices until the cooperative movement had received every possible opportunity of succeeding...
...refinery runs. The Mellon-controlled Gulf Refining Co. asserted that their gasoline reserves were low, that there was no need for them to cut distillation. In the same vein, Edward G. Seubert of Standard Oil of Indiana said: "We believe the appeal has merit. . . . We are running only sufficient crude to produce gasoline to take care of our current requirements...