Word: oiled
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Dates: during 1960-1969
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...question of character, personality and ability, and Washington left no doubt that Marcos was favored. In his ten months of command, Marcos has already defined and come to grips with the major problems outlined in his inaugural. Manila is overcentralized: the bulk of the nation's nascent industries (oil refineries, cement factories, textile mills, steel mills) are clustered around the city. Only half of the Philippines' 38,000 miles of roads are in drivable condition, and the Bureau of Public Works estimates that 5,400 miles more are needed to give the nation a minimal service network. Telephones are rare?...
...worked exactly the opposite. The light takes the pressure off the driver during that critical moment of approach." As a result of the test, Abilene will spend $5,900 for three more signals from its home-town inventor, James L. R. Hines, a longtime safety engineer for the Shell Oil Co. Houston plans to in stall 73 of them. And Hines, who spent nine years developing the system to "give a fellow a little better chance," has had inquiries from 19 foreign countries...
...such a heady atmosphere, Christie's now expects that Peter Paul Rubens' The Judgment of Paris, which they first appraised as a $280 copy by Lankrink (TIME, Sept. 16), will top $225,000 when it goes on the block next month. Another newly discovered Rubens, an oil sketch for his Samson and Delilah, will join it for an estimated $140,000. Henry Ford II will take profits on Christie's block in December by selling off four works by Matisse, Signac, Vuillard and Picasso for upwards...
...contractor, France will not have to ante up the huge cash bonuses with which the majors traditionally lubricate their concession agreements. In return, France agreed to bankroll the whole project, which may cost $50 million; the Iranians need repay the loan only if and when oil is found. Though it all adds up to a big gamble for France at no risk to Iran, E.R.A.P. spokesmen touted the deal as a long stride toward a "competitive French government oil company, flying French colors and making France completely independent of the majors...
...their part, the majors (the biggest, led by Standard Oil of New Jersey and Royal Dutch/Shell, are nicknamed "the Seven Sisters") fear that, waving the juicy E.R.A.P. deal as precedent, every sheik in the Middle East will be howling for similar agreements. Actually, France may well decide that it was a poor idea after all. Under the contract, E.R.A.P.'s exploratory territory shrinks from 85,000 to 12,000 sq. mi. after the first year, and still more after that; search rights may be stopped altogether after six years. Given past experience, the prospects for finding oil are uncertain...