Word: oiling
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Dates: during 1950-1959
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...first time in years, reported the U.N.'s Economic Commission for Europe, Western Europe's production is "leveling off." Machines are slowing down, using less oil and coal, digesting fewer raw materials, spewing out fewer finished products, and making smaller profits. Only highly protected France seems still to be boosting its industrial production. Warned Heathcoat Amory: "We cannot look at present to rising European demand to counteract the downturn in the U.S., as we could in the last recession...
...Hong Kong, Chinese Communist raincoats sold last week for 40% less than in Canton. The Japanese admitted that Chinese underselling had "destroyed" Japan's newsprint and grey cotton sheetings exports throughout Southeast Asia, now threatened to undermine Japan's markets in soybean oil, cement, structural steel, window glass. In Jakarta, Indonesians were snapping up Chinese yarn at $390 a bale, $25 cheaper than Japan's yarn. In Thailand, Japanese cotton piece goods had been virtually driven from the market by Chinese prices, which were as much as 15% lower. Other Red bestsellers: bicycles, sewing machines and scented...
...Oil import restrictions: heavily criticized in Canada, the restrictions were aimed to strengthen the U.S.'s defenses by encouraging domestic exploration for oil, were drafted to minimize their effect on Canada (other U.S. officials said that quotas have had no effect on Canadian oil sales...
...Shoot proved to be a hamlet in the middle of a swampy, oil-rich wooded area known as the "Big Thicket." Its 194 inhabitants claim that "if you stand around long enough, you'll get cut; if you try to run, you'll get shot." The city-slicker writers found Roy a quiet, soft-spoken schoolteacher and ex-Army lieutenant living in a modern cottage on the Harris farm. Roy told them he was part Indian (Cherokee) and "I want to prove that I am a fighter and not a myth." They all dutifully wrote that down...
...first time in 17 or 18 months, crude-oil stocks above ground are pretty much what they ought to be." So last week said Ernest O. Thompson, senior member of the Texas Railroad Commission, which controls 45% of U.S. output. Texas oilmen freely predicted that their monthly production schedules, limited in July to nine days, will soon be raised to ten or twelve days...