Word: oil
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Dates: during 1950-1959
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...Premier Antonio Segni's regime. The government consistently denied that taxpayers' money was backing // Giorno, Last week Mario Ferrari-Aggradi, head of the government ministry that controls state properties, stunned Senators by candidly acknowledging that ΙΙ Giorno does indeed belong to Mattei's ENI oil monopoly, "as of now." "ENI is no longer just a state within a state," shouted one Senator, "but a state against the state...
Money & Motels. As a civil servant, Mattei was appointed head of Mussolini's nearly defunct oil exploration agency in 1945, with orders to liquidate it. Instead he poured money into research and discovered vast fields of natural gas in the Po Valley. Today ENI gas, pumped through 3,100 miles of ENI's own pipelines, supplies 2,500,000 Italian families and 2,000 factories...
...charging high prices for the gas (competing fuel oil must pay 24% taxes against his 14.8%), Mattei has some flashy results to show: he has accumulated huge sums for oil exploration, owns pipelines, a tanker fleet, a spanking new synthetic rubber and fertilizer plant, and a string of thousands of bright yellow filling stations across Italy. He operates eight motels and is building nine more. He is also at work on an $80 million nuclear-power plant...
Trout & Charity. These successes conceal Mattei's bleak record in oil development. He has driven private oil-producing firms out of Italy, and while neglecting oil exploration in the promising Po Valley, he has scattered his capital around the Middle East, acquiring concessions in Iran, Egypt, Morocco and Somaliland, with little to show for it. He benefits from laws left over from fascism, which give his state organizations monopolistic power...
After World War II, Blacksmith Henrique Pedro de Sanson expanded his Rio shop to make boiler tanks. In 1950 he went into oil-storage tanks, in 1956 into specialized truck bodies-dump trucks, asphalt spreaders, tank trailers. "Business has increased 300% to 400% every year since I started," says Millionaire Sanson. Along with 39,892 other businesses (quadrupled since 1946), San-son's enterprise is riding a boom that has kited Brazil's gross national product up 63% in the past ten years, has boosted the per capita G.N.P. 29%-allowing for a population explosion from...