Word: oilfields
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Dates: during 1960-1969
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...pour any metal when V-J day arrived. Soon after the war, the unpromising one-furnace mill was sold for $7,500,000 to an optimistic group of Texas businessmen. To run it, they chose Germany, a onetime schoolteacher and salt packer who had grown wealthy as an oilfield wildcatter. Borrowing from the Reconstruction Finance Agency, Germany added open-hearth furnaces, manufactured steel pipe and sold it to oil drillers on the promise that he could ship cheaper than Eastern mills and on 24 hours' notice. Using low-grade local iron ore to save on transportation costs, Germany made...
...vast, malarial swamplands, Netherlands New Guinea is one of the most meagerly endowed countries on earth. Says one longtime settler: "If the Dutch ever pull out of here, the country will be taken over by the jungle again." Thousands of settlers have already pulled out; yields from the Dutch oilfield at Sorong have dwindled steadily, and the colony last year cost the Dutch $26 million...
Died. Walter Clark Teagle, 83, former president and board chairman of Standard Oil of New Jersey, a brilliant industrial strategist with the bulldog build and weatherbeaten face of an oilfield rousta bout; after a long illness; in Byram, Conn. The son and grandson of wealthy oilmen, Teagle rebuilt Standard after it was fragmented by a court decree in 1911, before he retired in 1942 mapped the overseas operations that made the company a world power in oil, but spared enough attention from his headlong expansion of Standard to pioneer in worker representation on refinery councils and (in 1915) the eight...
...shift with last-minute market changes. In their spare time, Phillips' eleven major computers also help to run the company's chemical plants, design new installations and plot transport routes from Phillips' 100-odd supply sources to its 2,500 wholesalers. In the lonely Oklahoma oilfields, Phillips' automated pumping stations now enable three men to do the work of twelve. "My father was an oilfield pumper," recalls a Phillips engineer. "He worked 14 hours a day, outside, in snow and heat, and got half a day off at Christmas. Now they do the same work nine...
...Kinley retired. Already this year, the burly Adair and his two apprentices, Asgar ("Boots") Hansen and Edward ("Coots'") Matthews, have tamed 50 wells in Bahrein, Brazil, Bolivia, Guatemala, Venezuela, Canada and the U.S. With an affluence known to no other firemen, Adair and his boys race to U.S. oilfield fires in flame-red Lincoln Continentals, fly in jet comfort to more distant alarms, and often collect as much as $20,000 plus expenses for a single job. For all his flamboyance-he indulges his fondness for red in his coveralls, safety helmets, office rug and secretary's hair...