Word: gulf
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Dates: during 1950-1959
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...voice was subdued, grim, with none of the usual flamboyant confidence. From his little office in ex-King Farouk's boathouse on the Nile, Gamal Abdel Nasser appealed to 22½ million Egyptians. His words carried also to an enormous Arab audience from the Atlantic to the Persian Gulf, from Casablanca to Basra...
...Wall Street maxim, stocks go down and commodities go up. Last week the maxim once more proved true. The news from Egypt set off the widest break in the New York Stock Exchange since the President's ileitis attack of June 8. Led by Royal Dutch-Shell. Gulf Oil and other oil companies with large Mideast holdings, the Dow-Jones industrial average dropped 6.62 to 479.85. But when the President pledged "no involvement." the market bounced up again. At week's end the market had more than regained its losses...
...concern over oil remained. The Middle East had been shipping 2,000,000 bbls. daily to Western Europe, 1,200,000 by tanker through the Suez Canal, the other 800,000 bbls. via pipeline from the Persian Gulf to the Mediterranean, where tankers picked it up. Another 300,000 bbls. daily had been going from the Mideast...
...oils: Shell at $30,702,649 dropped about half a million in net profits for the third quarter; Phillips Petroleum was 12% lower; Richfield Oil declined from $8,029,540 to $6,236,962; Atlantic Refining raised its net 92%, and Gulf and Sinclair also boosted profits during the quarter...
...independent producers do, and they argue bitterly that cheap foreign oil is wrecking domestic markets, keeping prices at low levels when they need more money to pour into new exploration. Importers (i.e.. Gulf Oil Corp., Shell Oil, Standard Oil of N.J.) counter that high imports are necessary to keep down prices by filling the gap between U.S. production and consumption, and that the import restrictions are in conflict with U.S. aims for freer world trade...