Word: crude
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...dispute between two U.S. Navy researchers, A. Hoyt Taylor and Leo C. Young, and a Scottish physicist, Sir Robert A. Watson-Watt. The British were the first to use radar (which they call the radio locator) in the Battle of Britain. But OSRD has converted the first crude radar into something of almost human intelligence and with superhuman powers...
Everette Lee De Golyer, 57, of Dallas, is perhaps the world's greatest oil geologist. Born in a Kansas homesteader's sod hut, he became the founder of a U.S. crude oil producer (Amerada Corp.), a director of Dallas' plush First National Bank, and the man whom the industry reverently calls "the father of geophysical exploration in the U.S." This man was the man whom Harold Ickes recently sent to survey U.S. oil properties in the Middle East, and who now attempted to explain to Americans why the U.S. is dabbling in Middle East...
...leasehounds who make their fairweather "offices" around his newsstand. Atop the building, in the swank Beacon Club, the talk of better heeled oilmen was the same: "Carter brings in new pool . . . she's bubbling out of the hole right now." For the Cottingham mud had tested 50% good crude, 50% mud and drilling water-no salt. By week's end the new well flowed at the rate of 150-175 bbl. a day, was closed down for another gun perforation at 10,640 ft. A second Carter test hole a few miles away was already below...
Petroleum Administrator Harold L. Ickes, who mortally fears a U.S. oil shortage, wanted a boost in crude oil prices in order to spur production. Economic Stabilizer Fred M. Vinson, fearful that this might squeeze about $500,000,000 more from the U.S. consumer, flatly refused. Still Mr. Vinson agreed that the price of oil in many a U.S. field is too low. Last week, OPA came up with its routine solution: a subsidy for the oil industry. Estimated cost per year...
...high; in all, estimated 5,000 wells will be sunk this year, a whopping 1,500 over last year's record high. As OPA sent its plan along to Stabilizer Vinson for approval, it hoped that it had taken the steam out of the drive for an overall crude-oil price increase...