Word: oilfields
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CUBA, which has no coal and imports some 50,000 bbls. of oil daily (90% of consumption), may soon have its first sizable producing oilfield. A group of U.S. oilmen and Cuban promoters have brought in the country's biggest find, with a well pumping 250 bbls. of good-quality oil in the Jatibonico Basin, about 215 miles southeast of Havana...
...Angeles. Aiming point: the Hollywood Race Track. Totally destroyed: much of the business district, several major aircraft factories, Dow Chemical, MGM. El Segundo Oilfield and part of Santa Monica...
...just now being discovered. Long considered poor in basic raw materials, the state has been finding uses for things that once were considered worthless. Around Jacksonville, two companies are mining ilmenite and rutile, from which the wonder metal titanium is produced. To the south, near Fort Myers, an oilfield is producing commercially. Oil was also found last month in a new area not far away. To the north, slash pine is feeding the paper and chemical industries. In the Everglades, Newport Industries and other companies are turning out tough ramie fiber, a promising substitute for Indian jute...
...bbls. a day, and the country uses nearly 20 times that much, which must be imported at a cost of about $200 million a year. Now Italy has solid hopes of cutting its expensive imports by at least 25%. Geologists report that there is a good-size oilfield under the hills near Ragusa, and estimate an eventual yield of 10,000 bbls...
SINCLAIR OIL, along with Carter Oil and Socony-Vacuum, has just brought in the first well in what may be a rich new oilfield in the Williston Basin 100 miles northwest of Bismarck...