Word: crude
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...citizens know much about Creole Petroleum Corp. Yet this U.S.-owned enterprise is the world's No. 2* oil producer. From 2,422 wells across Venezuela, Creole sucks up an average daily flow of 750,000 barrels of black crude, worth about $1,500,000. In the 30 years since it sank its first well, Creole has invested $767 million, and the investment has paid off handsomely. On recent annual grosses of around $500 million, Creole creamed off some $155 million in profits after taxes. Alone, it accounts for more than a third of the consolidated net income...
Total German output is now 128% of 1936's. Production of iron ore, crude oil, light metal products, artificial fibers, optical and precision instruments has reached an alltime high...
...industrialized westerners, the life of Jarmo looks crude, but the Iraqi peasants who live near Jarmo today find it not so strange. Modern villagers still live in houses like those of Jarmo. They still keep their animals in the courtyards and cultivate their scanty crops with tools that are not much better. They still bake their bread in mud ovens that have not changed appreciably since the discovery of agriculture. It took the industrial revolution to make much change in the pattern of village life that was fixed 7,000 years...
...still in operation near Milan, and they work just like the locks of the Panama Canal. But Leonardo was often too far ahead of his contemporaries. His paddle-wheel boat, his cantilever swing bridge, his pumps and his air conditioner (both driven by water power) did not fit the crude technology of the 16th Century. Centuries had to pass before the slow-moving world caught up with Leonardo...
...largest "cat" (catalytic) cracker at Gulf's main refinery at Port Arthur, Texas, will now build a still bigger one (63,000 bbls. a day) at Gulf's Philadelphia refinery. He will also build the world's biggest (125,000 bbls. per day) atmospheric and vacuum crude-oil "topping" unit (which skims off the lighter components of crude). The result will boost the military's supply of high-octane gasoline by 42,000 gals, daily. But Swensrud also has his eye on a longer-range peacetime market: the high-compression auto engine...