Word: oiling
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Dates: during 1950-1959
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...hurled forth antitrust suit after antitrust suit after antitrust suit that led to indictments, including a heavy blow at John D. Rockefeller Sr.'s mammoth Standard Oil Co. "Darkest Abyssinia never saw anything like the course of treatment we received," cried Standard Oil's John D. Archbold. The President maneuvered through Congressional bear trapes to get the U.S.'s first Pure Food bill. He got the U.S.'s first law providing for federal inspection of slaughterhouses. After a power play in Congress with the G.O.P. right wing, after ^a masterful display of coalition-juggling and issue...
Getty not only made a big strike of Eocene oil at 1,200 feet, but got right to work on a refinery to turn it into heavy fuel. Since 1956, when Getty formally changed Pacific Western's name to Getty Oil Co., Getty's half share of Neutral Zone production rocketed from 5,841,728 bbl. yearly to 11.6 million bbl. last year. Getty considers that just a beginning; the wells are scheduled to double production this year. The zone has 60 wells producing 100,000 bbl. daily, another 60 that have struck oil but are shut...
...friendly terms with them, takes care of them financially. They speak well of him, and wife No. 4, who gets $1,000 a month, is writing the story of his life. Getty has his own explanation: "There are plenty of capable people in my companies who know the Stateside oil business. But almost nobody in the U.S. knows anything about Middle Eastern oil. I stay over here to be in close touch with my Middle Eastern oil business...
Getty has taken care of his stockholders in the manner of many oil companies that pay small dividends, put profits into development. As a result, the investment in a single share of Getty Oil bought for $3 when Getty took over Pacific Western in 1932 is now worth $152, counting stock splits. In the same manner, Skelly Oil stock has risen from $26, when the company came into Getty's hands in 1937, to $231 today; Tidewater has marched forward from $19 in 1951 to $93 today...
...Getty Oil's earnings zoomed from $7,887,947 in 1956 to an estimated $17.3 million last year, and Skelly's earnings rose from $34.1 million to an estimated $37.3 million. But Tidewater is expected to report an earnings drop from $34 million in 1956 to $27.2 million in 1957. Reason: Refiner Tidewater has been harder hit than the producing end of Getty's empire by the drop-off in gasoline demand...