Word: oil
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...business that they can't ship my orders when I need them." Of such paradoxes is 1958's recession made, and rarely did they show more clearly than last week. The price of aluminum was cut, partly because of slow consumption, but the price of oil stayed up, despite huge excess supplies. The auto industry was having one of its worst years since World War II, and still the U.A.W. demanded "the biggest package ever" for its new contract. Tired of it all, a Chicago banker finally stood up last week and made a strong plea...
...clamor of Texas independent oilmen for sharper cutbacks in oil imports was answered last week by a realistic voice, speaking, of all places, from Texas. The speaker: Houston's Will L. Clayton, one of Texas' elder statesmen, a founder of the giant Anderson. Clayton & Co., cotton firm, a onetime Under Secretary of State and Assistant Secretary of Commerce. Clayton's message to his fellow Texans who expect the Government to cut imports more: stop trying to promote the "special interest of certain oil producers against the national interest...
...attempts should be understood for what they are, and defeated. The U.S. has always prospered by using the cheapest available fuels." In the future, such fuel will be at a premium, as consumption keeps rising. "We should never forget that the U.S. has only about 20% of the proven oil reserves of the world, whereas we are consuming over half of the present production of oil in the world...
...their way. To seize the initiative in the cold war, we must first make ourselves worthy of the leadership of the free world. But we will never do that so long as we continue to act in the short-term special interest of our minority groups." Concluded Clayton: "Our oil imports come partly from Venezuela (buyer annually of $1 billion of American goods, the economic equivalent of 250,000 American jobs), partly from Canada (our best customer in all the world), partly from the Middle East. Are we going to make all these areas mad just to maintain higher prices...
...Edward L. Steiniger, 55, executive vice president of Sinclair Oil, stepped up to president, succeeding Percy C. Spencer, 64, who become chairman of the board and remains chief executive officer. Steiniger joined Sinclair in 1925, went to Venezuela in 1928. became president of Sinclair Venezuelan Petroleum in 1950. He was elected vice president of the parent company in 1955, became executive vice president last year...