Word: oil
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Dates: during 1950-1959
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...article "Success in Sicily" contained a statement that Gulf Oil (i.e., Gulf Italia Co.) gets from its Sicilian oil-production operations 80% of all profits, instead of the standard fifty-fifty split. The truth is that Gulf Italia Co., under its concession terms established in 1954, pays to the Sicilian government a royalty of one-eighth of the gross production, plus corporate taxes (i.e., income tax and tax on the capital and on the extra profits). The combined and aggregate payment to the government of royalty and taxes brings about a fair and equitable profit sharing, which is practically equivalent...
...problems of the present. He had already conferred privately with British Prime Minister Harold Macmillan. France's Felix Gaillard had called to tell the President that practically every Frenchman is convinced that the U.S. has covert designs on North Africa, particularly on the Sahara's oil. Shocked, Ike told Gaillard emphatically that the U.S. had no intention of supplanting French interests in North Africa, or of interfering in the war in Algeria...
Records Every Year. Such rituals make the sum of the attention Pérez Jiménez thinks democracy needs in a country where the army is all-powerful, the ground is gushing oil, and people are getting rich from a boom that is now a decade old. In that time the capital city of Caracas has more than tripled in size to 1,100,000; the nation's population has swelled to 6,133,900. Farm hands are flocking to the cities; immigrants from Spain and Italy are pouring in. A primitive land ten years ago, Venezuela today...
...part, there had been nothing but good will and hard work since last summer. Fervently talking up his dream back in the U.S., Graham collected $250,000 from fascinated' investors ranging all the way from the Rockefellers' International Basic Economy Corp. ($25,000) to an oil worker who offered $5,000 in $100 monthly installments and formed Private Enterprises...
...volume almost 50% by shucking subsidiaries to raise cash for its bills. Penn-Texas sold Hallicrafters Co. (which brought in $30 million yearly in sales) and Industrial Brownhoist Corp. (sales: $14 million). Now Penn-Texas' President Leopold Silberstein is dickering to sell its 51% interest in Tex-Penn Oil & Gas Corp., Liberty Aircraft Products Co. and Quick-Way Truck Shovel...