Word: oil
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Dates: during 1950-1959
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...told him, "it is not for us to decide." Plainly, Colonel Maludin Simbolon and his fellow colonels have grown increasingly impatient with Sukarno's attempts to solve the crisis by postponement, and the colonels' power is decisive in Padang's councils. For they control most of oil-and rubber-rich Sumatra (which they propose to make the base of their counter-government if Sukarno cannot be brought to terms), can also claim scattered support in the nominally uncommitted areas of Borneo, Java and the Celebes...
...OIL IMPORTS stand chance of being cut further by Government under "voluntary" plan. Commerce Department is worrying over the "increasingly serious" inventory situation caused by drop in domestic demand, which is bringing price cuts in fuel oil. One big problem: the Government itself has increased imports to 40,000 barrels of oil a day, mainly for jets, and some oilmen want it stopped...
...Redmond, 62, who succeeded colorful, scrappy old Samuel Zemurray as United Fruit's president in 1951. To Redmond the decree is a green light for plans on the shelf since 1954. Last year United Fruit leased a million-acre concession from the Panamanian government to drill for oil; it hopes now to look over other mineral resources in Central America. After the announcement last week, investors sent United Fruit from 39⅝ to 43 on the New York Stock Exchange. They noticed, as President Redmond points out, that no provision of the decree materially affects United Fruit...
...soared to 66,000 planes, more flying machines than the combined air forces of both the U.S. and Soviet Russia. Last year alone, 18 light-plane makers added another 6,000 craft to the fleet, and grossed a record $125 million for an 800% gain since 1951. Gas, oil, maintenance and other costs for 209,000 private pilots who fly for fun or profit added $800 million more to the business. Yet the boom is just beginning. The forecast for 1975 is a fleet of 105,000 planes logging 25.8 million hours annually...
...fear that stockholders might think the planes are used only for junkets and fishing trips. But few companies will buy, and fewer plane makers will sell, a plane unless it adds to the customer's profit. Eastman Kodak, U.S. Steel, International Business Machines, Firestone Tire & Rubber, Socony Mobil Oil Co and Texas Co. all have fleets ranging from puddle jumpers to four-engined DC-6Bs and turbo prop Vickers Viscounts. They find them worth their cost many times over in shuttling men and equipment around their widely diversified operations...