Word: oil
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Dates: during 1950-1959
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...meatpacking, oil and aviation city of Wichita, Kans. (pop. 250,000), there is no better entertainment, to judge from the attendance, than the weekly meetings of the five-man nonpartisan city commission. Spectators throng city hall to witness the give and take of sewerage, highway problems and business licensing laws, and frequently the meetings are broadcast to overflow crowds in the corridors. Three TV stations film every byplay, five radio stations record every word of what Wichita fans call "the Tuesday night fights." One reason for the excitement: a furious feud between Commissioner John Stevens, 47, Wichita-born, of Lebanese...
Oilmen, who are legitimately optimistic, feel that the glut will eventually solve itself in both U.S. and world markets. Oil demand in the U.S. alone is expected to rise from about 8.5 million to 14.3 million bbl. daily by 1966; the same men compute free-world demand by then at 28.5 million bbl. daily. In 20 years, says William L. Naylor, senior vice president of Gulf Oil Co., the demand for petroleum should increase at least 80%, and perhaps as much as 100%. Yet before oilmen can enjoy this long-term prosperity, they must first solve their short-term problems...
...which has wrecked most other Western attempts at private enterprise. Propagandists rail so effectively against U.S. aid that it is becoming almost a sin to accept it. U.S. Government economic-aid programs are frequently considered politically ineffective, and private Western capital is steadily leaving the Middle East, except for oil companies, whose returns are great enough to justify putting up with the problems. Even Middle Easterners with money to invest generally salt it away abroad, or put it in quick-profit, nonproductive ventures. Only the Russians, who love a vacuum, have been willing to step in with easy credit...
...When Rykens got a favorable reception, he took off on a quick tour to line up more than 80 European and U.S. firms, including such giants as the First Boston Corp., Kaiser Industries and the Rockefellers' International Basic Economy Corp. Rykens carefully avoided both governmental assistance and the oil industry, which might have aroused Arab resentment, then tried his idea on the Middle East last fall. When he received a solid show of interest from businessmen and found no opposition from Arab governments, he decided to go ahead...
...history of civilized man. From Sinai to Gilead. Jephta and His Daughter fits neatly beside Fast's Moses. Seven generations have passed since Moses covenanted with Yahweh to worship Him alone. In that time the wheel has turned full circle: the people of Gilead. "grown fat on the oil and milk of the land," are not only a fragment of a disunited Israel but have become easygoing polytheists. Yahweh is no longer the fire-god of Sinai; he is merely one of many gods that dwell in the hills. When Gilead's warriors capture maidens in battle, they...