Word: oiling
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Dates: during 1920-1929
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...high U. S. official, Vice President Curtis and Mrs. Gann. Mr. Gann also went. He knew that Mr. McLean publishes the Washington Post and the Cincinnati Enquirer; that he was a bosom friend of President Harding; that he had "gone down the line" for Albert Bacon Fall, during the oil scandals; that his wife owns but rarely wears the Hope Diamond (44½ karats...
...Gulf Oil...
...Vacuum Oil...
...meeting itself, its outstanding result was an agreement to restrict 1929 oil production in North and South America to approximate its 1928 output of 1,075,369,847 barrels. Output of various companies will be pro-rated by five regional committees; restriction is apparently on a voluntary "gentlemen's agreement" basis. Had the U. S. oilmen been European oilmen, they might have drawn up a very solemn legal compact involving fines for overproduction and compensation for underproduction. But despite the fact that President Coolidge in 1924 appointed a Federal Oil Conservation Board which consistently recommended co-operation within the oil...
...Oil men hope that the 1928 production figure will hold for 1930 and 1931 as well as for the present year. Head of the General Conservation Committee which worked out the A. P. I. program is Ralph Clinton Holmes, President of Texas Corp. (Texaco products). A potent and rapidly growing "independent" (i.e., not a fragment of the dismembered Standard), Texas Corp. in 1928 sold 26,744,806 barrels of gasoline. an increase of 36.5% over 1927 and during 1928 increased its land holdings from 2,728,000 acres to 5,475,000 acres. President Holmes went from school room...