Word: mattell
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Horn of Plenty. Mattel's thesis is that a state monopoly can do more for Italy than foreign capital, thus does his best to ban outside investors and increase E.N.I.'s power. Starting with capital of $50 million last year, E.N.I, has rapidly expanded until now it controls most of Italy's production and refining, operates a tanker fleet, makes soap and sells 20% of all Italy's gasoline...
Test in Sicily. But the clearest indication of whether state-run companies can do a better job than private oilmen has been in Sicily. After drilling 20 dry holes, Mattel's A.G.I.P. pulled out of Sicily. In 1950 Sicily, which has a large amount of autonomy, allowed two dozen foreign and Italian firms in to hunt for oil under a new Sicilian law. By last week, Gulf Oil Corp. had brought in three promising wells with an average production of 350 tons daily in the Ragusa area (TIME, Jan. 25). The Anglo-Iranian Oil Co. has reported that...