Word: oiled
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Dates: during 1950-1959
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...tide of nationalism that swept the world after World War II, no young nation swam more proudly than Indonesia. Its 3,000 islands were rich with oil, bauxite, rubber, tin; its 85,000,000 citizens made it the world's biggest Moslem nation, sixth in population among all the nations of the world. In five years of fighting and negotiation, it had shaken off 350 years of Dutch rule and installed a working democracy pledged to merge its dozen ethnic groups and 114 different languages into a new "unity in diversity...
...wealthiest island, Sumatra, is bigger than California; Java has more people than the American Midwest. Mountains march down the spines of both islands, and a hundred volcanoes drift their smoke against the blue tropical sky. Indonesia bursts with resources, from copra and hemp to teak, tobacco and oil. The world's largest flower, rafflesia, with a diameter of 3 ft., blooms on Madura. The red-brown soil of Java (pop. 52,000,000), terraced with unbelievable ingenuity, produces two rice crops a year. The warm seas send long rollers crashing on the palm-fringed shores of Ternate, with...
...land where the centuries do not follow each other but run side by side. In the oil city of Palembang the streets throb with Cadillacs and motor scooters, while scarcely 50 miles away aboriginal Kubus still live in trees. There are modern textile factories on Java but. close by, a tiger may feast on a wild pig or water buffalo. Elephants trumpet in the rain forest; single-horned rhinos move like tanks through the deltaic swamps; the 10-ft. Komodo lizard looks out from thick underbrush like a dragon from the pages of Arthurian romances...
Despite a hard winter, stocks of heating oil are still far above last year's level; gasoline stocks are at an alltime high. Refiners in Oklahoma and Texas have been forced to cut crude prices, and pressure is building up for a further slash in Oklahoma allowables. Domestic producers blame the situation on heavy imports, but importers are complaining that their quotas under the Government's voluntary-import quota program are not high enough to enable them to operate efficiently. While imports of petroleum and oil products reached a record high of 1,897,500 bbl. at latest...
...Frank Oscar Prior, 62, president since 1955 of Standard Oil Co. (Ind.), was named chairman of the board and chief executive officer to succeed Robert E. Wilson, who retired after 13 years as chairman. A Stanford graduate and onetime oilfield roughneck, Prior will be succeeded by John Eldred Swearingen Jr., 39, executive vice president since 1956. Swearingen, a South Carolinian, went to Standard in 1939 from Carnegie Tech, won a reputation as a top production man, became general manager of Standard's production in 1951, vice president in charge of production in 1954. Prior and Swearingen have worked together...