Word: oiled
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Dates: during 1930-1939
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...ARRINGTON S. J. ALFORO D. W. RAMSEY C. I. LANGDON West India Oil Co. Panama...
Like Mexican oil (see p. 61), Mexican art is a commodity in which U. S. citizens take considerable interest. Those who want to get oil out of Mexico are having a tougher & tougher time. Those who want to see or buy Mexican art are having it easier & easier. In San Francisco, Detroit, Manhattan and Hanover, N. H., distinguished murals have been painted by Artists Diego Rivera and José Clemente Orozco. Into Mexico City, where there are more & better Mexican paintings, the Inter-American Highway running south from Laredo, Tex., has piped thousands of U. S. tourists since its opening...
With a daily average output of 123,800 bbl. this year, Mexico ranks as the world's seventh largest oil-producing nation.* Oil is Mexico's fourth-largest industry but it is almost entirely controlled by foreign firms, which currently have a $450,000,000 investment in it. This has long rankled nationalistic Mexicans, who not only covet the foreign-held oil fields but see justification in Mexico's taking them, since a Mexican legal principle from the time when the country was a Spanish colony until 1857 held that the Government owned all subsoil rights. From...
...rights of U. S. companies in an agreement with President Calles which has since been upheld by the Mexican Supreme Court. Mexico's Presidency is now occupied by New Dealing Lázaro Cárdenas. Fortnight ago, after six months of labor trouble in the oil fields which has threatened the stability of the Mexican Government, President Cárdenas disregarded the Calles-Morrow agreement, expropriated some 850,000 acres of undeveloped oil-land leased by foreigners (TIME, Nov. 15). Last week, while foreign oil companies threatened to leave Mexico, and relations between the Mexican...
...present Mexican oil crisis began last May with a nation-wide strike by oilworkers for more pay and shorter hours. Since foreign oil companies pay 7% of Mexico's taxes, a prolonged strike threatened Government finances as well as those of the foreign oil companies. After two weeks, therefore, President Cárdenas intervened, commissioned a group of Government experts to investigate. Two months later in a 3,250-page report the experts ordered 17 foreign companies to raise wages some $7,000,000 (TIME, Aug. 16). Contending that the report was "grossly unfair," the companies refused...