Word: oiling
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Dates: during 1930-1939
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Meanwhile in California a longer and louder wrangle over off-shore oil wells was settled, at least for several years to come, when Governor Merriam signed a bill for leasing State-owned oil land under the sea near Huntington Beach.* A legislative headache in California for years, this strip of tideland holds natural gas and oil worth about $500,000,000. At one time the State tried leasing it to oil companies which did their drilling from piers built out through the surf. Opposition came not from fishermen but from bathers who found oil scum all over their beaches. They...
This almost perfect technique for extracting oil from the State's underwater territory was not neglected by California oil companies. By 1934 about 100 wells had been drilled by independent companies on town lots at Huntington Beach, whip-stocked down through beach property owned by Standard Oil Co. of California and out into the State oil pool. Caught at this, the companies were penalized only by being forced to pay 14% royalties or less on the stolen oil. Next year a special investigating committee found that Standard had also been tapping the State pool with vertical wells. Standard offered...
...executive offices in Manhattan last week but no company comment was forthcoming, an "official spokesman" merely observing: "Mass distribution is not static." Two alternatives to chain store merchandising are already showing hardy growth-the supermarket and the voluntary chain. Not unlike the "Iowa Plan" by which oil companies sell filling stations to their operators (TIME, Nov. 23), the voluntary chain consists of stores owned and operated by independent merchants but serviced and supplied by a central organization. A. & P. could become a voluntary chain by selling stores to their managers, continuing to function as a wholesaler only...
...Rockefeller: "Sane in every respect save one-he is money mad." In the past few years, however, Mr. Rockefeller's dominant ambition was to live to be 100. With the same serene confidence in his destiny that once made him master of the nation's oil industry and the world's first billionaire, he believed he would achieve his goal. But last week, as it must to all men, Death came at the low hour of 4:05 a. m. to John Davison Rockefeller at "The Casements" his winter home in Ormond Beach...
...made more money than any man has ever made in a lifetime. Yet 30 years ago in the days of Roosevelt I, John Davison Rockefeller was frequently and publicly proclaimed as the "mosthated man" in the U. S. The $29,000,000 fine imposed on Standard Oil in 1907 by Kenesaw Mountain Landis was merely a reflection of the public's temper. Mr. Rockefeller and the Standard Oil Trust were not viewed with the cynical distrust which Big Business enjoys in the days of Roosevelt II. At that time the public was roused to a white fury...