Word: oiled
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Dates: during 1990-1999
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Honest-to-goodness muckraking, though, was on the way. At McClure's weekly magazine, Ida Minerva Tarbell, daughter of a Pennsylvania oil producer who had been forced to eat dust by John D. Rockefeller's Standard Oil trust, was making life hell for the wizened John D. with a 19-part series on Standard Oil that ran from 1902 to 1905. Her work, plus the reporting of a few other intrepid journalists, notably at the hotly competitive mass-circulation papers of Joseph Pulitzer and William Randolph Hearst, became Teddy Roosevelt's big stick in his successful drive to bust...
Certain industries have yielded gushers of eccentrics. Oil gave the world two famous penny-pinching billionaires: J. Paul Getty (1892-1976), legendary for forcing guests at his estate to use a pay phone, and H.L. Hunt (1889-74), who every day either brought his lunch to work in a paper sack or, when not feeling quite so flush, cadged his secretary's sandwich. Less well known was oil and cattle baron James ("Silver Dollar Jim") West (1903-57). Wearing a diamond-encrusted Texas Ranger's badge and hunched behind the wheel of one of his 30 automobiles, West loved...
1910s As powerful corporations emerge, the government becomes active in regulating them. The Standard Oil Trust is broken up. A War Industries Board manages production...
CARACAS: Good thing oil is cheap. Six years after he led an abortive military coup, left-wing populist Hugo Chavez was elected president of Venezuela, the largest supplier of oil to the U.S. "U.S. oil companies are worried that Chavez plans to move the country's economy away from free markets," says TIME reporter Christina Hoag. "He's said a lot of contradictory things and nobody knows where he actually stands." The president-elect was certainly not doing much to clarify his plans late Sunday: "In truth, I'm not Chavez," he told reporters. "Chavez is a national feeling; Chavez...
...former coup leader's decisive victory is a sign of widespread popular anger at corruption and poverty in the oil-rich state. "Although he plans a referendum on changing the constitution, his economic policy will have to be more moderate," says Hoag. "Today's reality no longer allows for leftist economics." Washington denied Chavez an entry visa a year ago, but has said it would work with him if elected. After all, Chavez is just a feeling...