Word: maracaibo
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Dates: during 1930-1939
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...burden of rain. In the tropical night an almost continuous electrical display can be seen along the mountain peaks, resembling successive flashes of sheet lightning. This phenomenon is called the "Catatumbo Lights," after the Catatumbo River, which rises in Colombia and empties into Venezuela's saltish Lake Maracaibo (see map p. 68). Early explorers thought the Catatumbo Lights might be similar to the "Perpetual Fires" at Baku, where burning natural gas seepage illuminated the discovery of that fabulous Russian oil field. Their guess was a scientific error. But the Catatumbo Lights did illuminate the discovery of another major source...
...years since oil was first found oozing from the ground around masses of asphalt in the Maracaibo Basin, more than 1,000,000,000 barrels of crude petroleum have crossed the shallow bar that joins Lake Maracaibo to the Gulf of Venezuela. For a few years Venezuela ranked second to the U. S. in oil production, though since 1931 Russia has crowded it into third place. In neighboring Colombia, where the oil oozed just as freely, only Standard Oil of New Jersey has so far made the tremendous investment necessary to get South American oil to market. Colombian oil fields...
...building of a pipeline more than 200 miles to the Colombian coast. In the end, though, Texaco and Socony will have to stand the costs. Most favored parties in the Barco setup are the Colombian Government and the heirs of old General Barco and interests like American Maracaibo Co., who have bought shares in his original royalty rights. Without putting up a cent, Colombia and the Barco heirs & assigns will eventually receive total royalties amounting to some 10% of all Barco oil delivered to the pipeline terminal. What Chairman Rieber had been willing to pay for one of the richest...
...Russia spouted from Venezuelan wells, and every gallon of it pays a 7% to 10 % royalty to the Government. Cheap to produce, most of this oil is drilled on the shores and in the bottom of a long arm of the sea known as Lake Maracaibo, is carried to refineries in Dutch Curagao and Aruba by a fleet of special shallow-draught "baby" tankers able to jump the treacherous sandbar at the mouth of the lake. Three great oil companies share most of this trade: Royal Dutch-Shell, Standard of New Jersey, Gulf. Before NRA, Manhattan motorists were more...
Morgan was primarily a land fighter. His plan was to cripple Spain's power in the Caribbean by raiding and destroying her chief ports. He sacked successively Puerto Principe, Porto Bello, Maracaibo, Gibraltar, Panama City. When he stormed the last defences of Porto Bello he forced captured monks and nuns to carry the scaling ladders; it tickled him to see the Spaniards forced to shoot down their sacred compatriots. At the fight at Matasnillos the Spaniards stampeded 1,500 bulls against the buccaneers: Morgan's men indulged in no matadorean antics, routed the bulls with a musket volley...