Word: oiling
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Dates: during 1950-1959
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...Dardanelles gives the Turks the potential ability to close off the Red navy's only means of direct access to the Mediterranean.* If Turkey were not in the way, no substantial military force would stand between Russia and its dreams of domination of the Middle East and its oil riches except the small forces and the uncertain tempers of the Arab nations themselves...
Boldly, Adnan Menderes set out to alter all this-at first by his announced program of relying on free enterprise. He rewrote Turkey's laws to encourage foreign investment by such means as easy profit transfers and the promise of generous exploitation terms to anyone who found oil. He encouraged private investment in textile production and light industry. Among his first acts was abolition of the rigid import controls that the Republicans had established at the beginning of World War II. The consequence was that the Turks, starved for almost a decade for the products of Western industry, began...
...years against 144 for Djakarta; bartering its rubber with Singapore produces an estimated $1,500,000 a month in profits. When Djakarta seized eight South Sumatran ships in an effort to halt the barter trade, the rebels quickly got them released by threatening to cut off Djakarta's oil supplies from Sumatra's refineries. Simbolon can also point to the fact that its barter taxes and profits have been either deposited in Padang and Palembang, pending a settlement with Djakarta, or used for public improvements, like roads, hospitals and schools...
From the beginning of his strongman career in 1948, Perez Jiménez believed the reverse. "My country," he liked to say, "is not ready for democracy." He took the profits of Venezuela's oil-fed prosperity, lavished them on jobmaking monuments, public buildings, superhighways, military officers' clubs. Although he left the country's illiterate peasants and day laborers in hovels, he perched a luxury hotel, a glittering restaurant and an eye-popping skating rink on top of a mountain, connected them to Caracas and the sea with a soaring system of cable cars, then started boring...
...sign of a silver spoon, became a trustee of the estate of James C. Brady and chairman of the board of the Brady Security & Realty Corp.; invested in Chrysler in the '205, was soon a member of the board of directors of the Bank of Manhattan, Continental Oil Co. and more than a dozen other large industrial and financial corporations. Wartime ("dollar-a-year") special assistant to the administrator of the lend-lease program, later director of its British Empire branch, prominent Roman Catholic Layman Griffin was longtime (1947-57) president of the English-Speaking Union and co-chairman...