Word: oiling
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Dates: during 1950-1959
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...Chamber of Deputies President Hóctor Cámpora; José Gregorio Espejo, once head of the General Confederation of Labor; John William Cooke, last boss of the Peronista Party; and Pedro Andrés Gomiz, former director of the nationalized Argentine oil industry. But it was two others who were most remembered back in Argentina. One was boyishly handsome Guillermo Patricio Kelly, top bullyboy of Perón's street-fighting Alianza greyshirts. The other was Jorge Antonio, biggest moneyman of Perón's regime...
...oil industry, which has moved its exploration steadily westward, came news last week that sent wildcatters racing back East. Near Conneaut, Ohio, only 50 miles from the first U.S. well at Titusville, Pa., a rich well came in in an area everyone thought was exhausted. The flow: an initial 6,720 bbl. daily v. an average ½ bbl. daily for the only remaining wells near by. The name of the man responsible for the strike was no surprise. He is old Mike Benedum, 88, the king of the wildcatters and a man who says proudly: "I have unloosed more oil...
Texas & Wyoming. The Ohio well-and possibly a big new field-was the third brought in by Benedum companies in a month. Fortnight ago, near Gillette, Wyo., the three Benedum companies (Penn-Ohio Gas, Hiawatha Oil & Gas, Benedum-Trees Co), that hit in Ohio also brought in another promising oil pool on a 90,000-acre leasehold of virgin oil land, pumped an initial 350 bbl. daily and are now drilling a second well. Last week, in Brooks County, Texas, still another well came in for the same three outfits, this one capable of producing 30 million to 40 million...
...discovery was the result of a dogged effort to see if new drilling techniques could coax more oil out of the Appalachian basin where U.S. oilmen brought in their first wells almost a century ago. The companies gambled on three wells-and got three dry holes. With the fourth, on a 9,000-acre lease (annual rental: 25? an acre) in the northeast corner of the state, he finally hit the jackpot. Benedum figures the well should produce at least 1,000 bbl. daily on a long-term basis. Within hours of the strike nine companies were in the area...
Even an established importer, Sinclair Oil Corp., asked for relief, demanded a quota boost from 62,200 bbl. daily to 74,800. At a hearing before Captain Carson, Sinclair President J. E. Dyer challenged the program's premise that cheap foreign oil is endangering the nation's security by cutting down oil exploration. Despite accelerated exploration in recent years, he said, the nation's reserves are not increasing fast enough. "To disrupt and impair our sources of supply abroad and jeopardize relationships of industry that have been built up with foreign nations over a long period...