Word: gulf
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Dates: during 1950-1959
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...article "Success in Sicily" contained a statement that Gulf Oil (i.e., Gulf Italia Co.) gets from its Sicilian oil-production operations 80% of all profits, instead of the standard fifty-fifty split. The truth is that Gulf Italia Co., under its concession terms established in 1954, pays to the Sicilian government a royalty of one-eighth of the gross production, plus corporate taxes (i.e., income tax and tax on the capital and on the extra profits). The combined and aggregate payment to the government of royalty and taxes brings about a fair and equitable profit sharing, which is practically equivalent...
When Hurricane Audrey roared up toward the Gulf Coast last summer (TIME, July 8), the only physician in the marshland town of Cameron (pop. 3,000), at the southwestern corner of Louisiana, was Cecil William Clark, 33, who ran a community medical center with a twelve-bed hospital. Dr. Clark was confident that his new brick house would ride out the storm, but he was worried about the frame clinic building (with only a brick veneer) and its eight bedfast patients. Leaving their three youngest children at home with a maid, Dr. Clark and his wife Sybil (a nurse-anesthetist...
...Roosevelt's incredible energy marked him off from the rest of his fellows, his aristocratic tendencies served to widen the gulf. He took private rooms at No. 16 Winthrop Street, a house which stood at the northeast corner of the present IAB. He did this for two reasons--his health was still not perfect, and only damp first-floor rooms were available in the Yard; and he liked seclusion for working on his natural history specimens and his historical writing. Even though friends sought to bring him into student society, he retained his private rooms throughout his college years...
...biggest moneymaker of all is Sicily's booming young oil industry. Instead of throttling foreign oil exploration by setting up a state-run monopoly such as Italy's ENI (TIME, Sept. 2), Sicily encouraged Gulf Oil Corp. with a deal that one U.S. oilman calls "the best terms of any oil company operating anywhere in the world." Instead of the standard fifty-fifty split, Gulf gets 80% of all profits, has pumped $50 million into Sicilian oil development. The payoff: wells that will produce 1,650.000 tons of oil next year, some 15% of Italy's total...
...slowdown has idled millions of dollars worth of drilling equipment. Humble Oil, which vies with Magnolia as the third biggest offshore producer (12,115 bbl. a day), has only twelve rigs operating in the Gulf now, v. 16 during the first ten months of this year. The powerful CATC oil combine-composed of Continental Oil, Atlantic Refining, Tidewater and Cities Service-last week was working only 15 rigs, v. 19 in August...