Word: oil
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Dates: during 1950-1959
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...letter of intent from a combine of Durum A.G. (Zurich) and Texas Oil Magnate John W. Mecom for the exploration, exploitation and transportation of oil both on dry land and underwater...
...people of Houston went to the polls last week and used their ballots to cure a strange malady-a perennial case of "one of our hospitals is missing." Beginning ten years ago, to care for the needy ill of the mushrooming oil-rich city and surrounding Harris County, $12 million was set aside. It was plain that Jefferson Davis Hospital was hopelessly inadequate. Overcrowding was rated a major factor this year in the deaths of 18 babies in a staphylococcus epidemic (TIME. March 31). Still no hospital was in sight...
Atop their near-volcano, Magma Power and Thermal Power drilled four steam wells, using ordinary oil-well drilling equipment. The wells are 500 to 700 ft. deep, and the temperature -of the rock at bottom is about 600° F. When the wells are capped, steam pressure measures 300 to 400 Ibs. per sq. in., but when the steam flows, pressure drops to 100 Ibs. and temperature...
Around a T-shaped table in the office of Interior Secretary Fred Seaton, 25 representatives of 15 major oil companies met last week to demothball a tool left over from Suez. The oilmen were the backbone of the Foreign Petroleum Supply Committee, whose members formed a special committee to keep Europe's oil flowing in 1956 during the Suez crisis. Present purpose: to keep oil coming in case the fields in Iraq-or any other Arab land-should be suddenly shut down. Said Seaton: "We must be prepared to move, and move quickly...
Seaton wants the industry to operate in much the same manner as during Suez, but on a wider scale. Instead of concerning itself chiefly with alternate transportation for oil that normally passed through the canal, the new Middle East emergency committee will stress production as well. All the major overseas operators will be members, plus several wholly domestic companies, which were excluded from the Suez committee. For better coordination the plan provides a fulltime government employee (probably Oil Import Administrator Matthew Y. Carson Jr.) as chairman-rather than an industry representative, as during Suez. With details already worked out, Seaton...