Word: oiled
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Dates: during 1960-1969
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...raids destroyed an estimated 75% to 80% of the two complexes. At least 50% of North Viet Nam's remaining POL (for petroleum, oil, lubricants) supplies went up in smoke, leaving the country with reserves adequate for only eight weeks-if they are not bombed again. The loss will make incalculably more difficult the flow of troops and materiel for the Communists' ever-more-desperate war in South Viet Nam. Though U.S. planners had feared that a dozen or more aircraft might be shot down, only one-an F-105 fighter-bomber hit over Hanoi-was lost...
Truck and barge convoys obviously cannot move without oil-which North Viet Nam does not produce or even refine, depending wholly on imports, mostly from Russia. In recent months, these imports have soared by 60%, and Hanoi has begun dispersing and burying its vulnerable storage tanks, as clearly shown by reconnaissance pictures. Given the "perishable nature" of such a target, the Secretary added crisply, "it became much more desirable to attack it now than it had been earlier...
...moment Illia took over, his philosophy had been to sit quietly back and let the land of beef and wheat run itself. The only place it ran was downhill. Prices, wages, national debt and unemployment soared, and Illia's one really concrete action-cancellation of all foreign oil contracts-proved a disaster. Argentina, which has been almost self-sufficient in oil, must now import $100 million worth annually...
...cause of all this excitement was the simple soybean, the hottest item in the seething U.S. commodities market. Last week futures for soybeans, soybean oil and soybean meal set seasonal records after a month of wild trading. A cool speculator who decided to hold on to his contracts for the month could have tripled his money. In trading last week price changes twice reached the permissible daily limit of 10? per bu., and to take the heat out of the market the Board of Trade has doubled in stages the margin required of a trader...
...Gold. Introduced to the U.S. from Asia in 1804, the soybean did not become a significant agricultural product until World War II cut off normal U.S. imports of fats and oil. From a crop of 193 million bu. in 1945, output rose to 843.7 million bu., worth nearly $2.5 billion last fall. Soybeans are the U.S.'s most valuable agricultural export, ranking ahead of wheat and corn...