Word: oiling
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Dates: during 1930-1939
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...Since then he has been the Kleberg front man. His younger brother Robert Justus Jr. sees to the King's 125,000 head of livestock, including the Klebergs' own hardy "Santa Gertrudis" breed, its 1,500 miles of fences and the development of its newest treasure: oil...
...while oil had seemed to be one industry that had avoided the "inventory depression" of the past year. With production in most of the mid-continent field strictly prorated, crude prices have been steady all year and crude oil stocks have been held down so much that on October 1 they were at a 15-year low of 280,852,000 bbls. But refiners, who did not see Depression II coming, have been feeling the pinch of reduced industrial demand and curtailed public consumption; their stocks of refined products now stand at phenomenal highs-fuel oil...
Last week this basic unbalance finally brought the event the industry has been hoping against-widespread cuts in the price of crude oil. Initiated by small independents in the non-prorated States of Louisiana and Arkansas, the cuts were soon adopted by everyone, dropping the price from $1.22 to about $1.02, the first general cut since NRA. Thus brought into the open was a paradox which may knock the complex proration system galley-west: an efficient method of controlling production has been worked out, but since the Federal antitrust suit against the oil industry at Madison, Wis. last year, there...
Stabilization of oil was first attempted under NRA. When that went under, the job of issuing production quotas was assumed by prorate boards in Texas, Oklahoma, Kansas, Colorado, Illinois, New Mexico, cooperating through an Interstate Oil Compact Commission specially authorized by Congress. This six-State body has no regulatory or price-fixing powers, can act only as a clearinghouse between the various State regulatory boards. That it has been successful is attested both by the present small crude oil inventories and by the Commission's voting three weeks ago to ask Congress to extend it another two years...
...were worried about the heavy seas which threatened their plane. Bathurst, in Gambia, was pleasant and clean and the English were helpful, but at each attempted takeoff the plane struggled, spanked along on the top of the waves, could not get free. The Lindberghs threw out extra tools, clothing, oil, said good-by to their hosts every day and returned shamefacedly to try again. When they got off at last the motor sputtered from an insufficient fuel supply, and Mrs. Lindbergh thought they were finished...