Word: crude
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...called statement of the Dalai Lama issued through an Indian diplomatic official in Tezpur on April 18 is a crude document lame in reasoning, full of lies and loopholes," declared a long commentary of the official New China News Agency...
...Skill. But spooning has become a crude technique, with a relatively picayune payoff. The real returns (from $15 to $1,000) come in hitting the jackpot. When that happens in most Nevada gambling houses, only a few coins tumble down. A bell rings, the box lights up, and a sharp-eyed change girl arrives at the machine, sometimes with an assortment of mechanic types who check to see that there has been no ham-handed tampering. If the win looks legitimate, the change girl pays the big money...
...mandatory oil quotas on imports, set for major refiners last week, squeezed some companies tight. Of the 136 companies put on quotas, those seriously restricted in their imports are Gulf Oil Corp., whose crude and unfinished oil quota was lopped 31.7%, Sinclair Refining Co. (29.6%), Tidewater Oil Co. (38.8%), Standard Oil Co. of Indiana (32.8%), Socony Mobil Oil Co., Inc. (40.4%) and Texas...
...cuts brought a cry from Standard of Indiana that they are "grossly discriminatory." As other importers also stormed over the Administration's move, independent Texas oilmen (who produce more than 40% of the nation's crude output) put on contented smiles. U.S. domestic oil demand is now running at about 9,000,000 bbl. per day and is expected to increase this year to 9.4 million bbl. daily. With U.S. daily crude production about 7,000,000 bbl. and total imports cut to 1.5 million, it is domestic producers who will make up the 1,000.000-bbl. daily...
...reserves-the oil industry's own figures last week showed that there need be no worry over reserves. The American Petroleum Institute reported that drilling had declined slightly last year. But a falloff in demand, plus imports, had slowed the drain on U.S. fields. Thus, U.S. crude reserves at the end of 1958 stood at an alltime high of 30,536,000,000 bbl., up 235 million from the total the year before...