Word: oiling
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Dates: during 1950-1959
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...down to 81% of capacity. The steel industry considers recession a dirty word, says flatly that it is undergoing a "mild cyclical adjustment" which is now stabilizing. Production may go down some more, but steelmen expect consumption to remain at current levels as businessmen live off inventories. The oil industry is also cutting back to pare its ultralarge, 283 million-bbl. inventory of oil stocks...
...also indicated that Morocco intends to put up a struggle for the oil and mineral riches of South Morocco, still a Spanish protectorate. He called this territory south of Ifni "our door opened on the Sahara...
...troops will be airlifted 1,000 miles from Kenya to Aden, to pick up the heavy vehicles and weapons stored there for them (thereby saving the cost of a new base in Kenya). The new force is designed primarily to deal with trouble or brush-fire rebellions in such oil-rich domains as Bahrein and Kuwait or in the string of other British protectorates to whose defense Britain is committed by treaty. An attack on Britain's Baghdad Pact allies-Turkey, Iran. Iraq and Pakistan-would require a far wider response than Aden could provide...
...customs, getting regulation haircuts and uniforms fitted. Three of the panelists guessed the truck driver, an act he greeted with one of the most triumphant smiles ever flashed on the TV screen. Another time the panel had to pick out a Texan who had parlayed $350 into a vast oil fortune. "What is an important byproduct of oil?" one of the fakes, a minister from South Carolina, was asked...
...ARABIAN OIL MONOPOLY, held by U.S.-owned companies, will be broken if Japan's new Arabian Oil Co. signs pending contract, upsetting the traditional 50-50 profit split. Terms of deal are still secret, but oilmen in U.S. and Tokyo say that Japanese company will pay about $2,000,000 a year to seek oil off shore of Saudi Arabia's half of Neutral Zone, will give 56% of profits and several other benefits to Saudi Arabia...