Word: gulf
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Dates: during 1950-1959
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INLAND WATERWAYS in U.S. are carrying 20% more traffic this year than 1955's record 867 million tons. Business is up 20% on Tennessee River, 15% on lower Mississippi and Gulf Intracoastal Waterway (TIME COLOR PAGES, Oct. 1). Total U.S. waterborne traffic-including imports and exports, coastal, lake, inland waterways-topped 1 billion tons last year for first time in history...
...they will still get some 800,000 bbls. a day around the Cape of Good Hope-including perhaps as much as 350,000 bbls. normally bound from the Middle East to the U.S. East Coast (a deficit that the U.S. will make up in routing more oil from the Gulf Coast to the Atlantic seaboard...
...before federal mediators for weeks to come. Still to be settled is the union's demand-vigorously opposed by the shipping association on the ground that it can only bargain for shippers in its own area-that the I.L.A. be given a master contract covering all Atlantic and Gulf ports. Beyond that, the I.L.A. and the shippers are still far apart in negotiations over wages, length of contract, etc. Nonetheless, this week some 250-odd ships that had been immobilized by the costly ($20 million a day) dock strike were being loaded and readied to put to sea again...
...three months' work had turned to talk of six months' or more. Once the work is under way, salvage experts hope to clear a shallow channel for ships of 25-ft. draft in a few weeks. Then tankers plying the cape route to Europe from the Persian Gulf could take a short cut through Suez on the empty return trip, cut their time by 25% and costs proportionately...
...well, pumping an average 642 bbls. of high-grade oil daily, and oilmen felt much of the nearby leasehold could be considered proven oil land. Then two more wells came in on Navajo land. Superior Oil brought in its Navajo B-1 well, with 1,402 bbls. daily, and Gulf Oil brought in its Desert Creek No. 1 well...