Word: oiling
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Dates: during 1950-1959
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Appearing thin and weary, Dulles nonetheless waved off Ike's offer of a place on a sofa-"No, no, no"-and sat on a chair while the group posed for photographs under an Eisenhower oil portrait of Winston Churchill. The visit to Dulles, planned to last only 30 minutes, stretched on for nearly an hour as the leaders of the U.S. and Britain got down to the crisis of Berlin and West Germany. Indomitable John Foster Dulles drove home a vital point: let's talk about East-West negotiations but not deals-and any negotiations must...
British informants said Iraq authorities have given assurance that Britain will not be ejected immediately from its Habbaniyah air base west of Baghdad. The British hope to negotiate an agreement keeping the base intact and giving them rights to fly over the oil fields...
...integrated oil companies, who do most of the importing, scoffed at this reasoning, since the order also restricts oil from Canada, which is highly unlikely to be cut off by war. If the U.S. needs a big hoard, they argued, it should import more rather than less, keep its own oil for emergencies. They called the mandatory order, which will boost the price of oil, simply a protectionist victory for the hard-lobbying Texas independent oilmen. What worried free traders everywhere was whether the quotas would open the door to new protectionism for other industries, under the guise of "national...
...stake in the electric-and other-cases are decisions crucial not only to free trade. If the protectionists win, the "national security" dodge will create many new problems for all free enterprise-as the quotas on oil imports show. The U.S. Government warned that it will police oil prices; if prices rise beyond levels set by OCDM, the U.S. will let in more imports. Further victories by the protectionists could well bring price controls on many another industry and take the U.S. a long step toward peacetime price controls for the whole economy...
Smog-Reducing Gasoline. Tidewater Oil Co. put on sale in Los Angeles a new-formula gasoline which, it says, cuts the amount of smog-forming hydrocarbons released into the air from motor exhausts on new cars, gas pumps, etc. Price: same as other higher-grade gasolines...