Word: oiling
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Dates: during 1950-1959
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Arab nationalism in Iraq centers around the northern oil city of Mosul, on the banks of the Tigris. Surrounded by the powerful and hostile Kurds, whom the Communists have been busy infiltrating, Arab zealots in Mosul wanted to join Nasser's one big Arab nation, and blamed Kassem for keeping them out. Mosul hardly seemed the place to stage a Communist rally, unless Iraq's wily and wiry strongman wanted to provoke trouble...
...radiating a little more optimism than perhaps the circumstances warranted, still talked of Kassem's capacity to resist, if need be, the Communist help he depended upon to crush the Mosul revolt. (So long as Baghdad keeps independent of Cairo, the British think they can save their valuable oil principality of Kuwait from falling to Nasser.) Washington's reaction was to take no sides in what it called an Arab "family quarrel." Nasser's disenchantment with the Communists may now have gone a little farther than Kassem's, but neither was yet showing any signs...
VEERING away from his free-trade position, President Eisenhower last week clamped mandatory quotas on oil imports. His reason: "national security." The curbs were made compulsory because some importers were violating the "voluntary" quotas imposed months ago. Under the new order, total daily imports will be cut from about 2,000,000 bbl. to 1,500,000, and oil products and residual fuel oils will be restricted for the first time; products will be slashed from 300,000 bbl. to 60,000, residuals trimmed slightly. The new curbs, said the President, are intended to stimulate exploration for oil at home...
...holes in brittle materials, such as germanium and glass. They will measure any liquid, including exotic jet fuels, and liquid oxygen in rockets. The aircraft, electronic and missile makers have been a major spur to the growth of ultrasonics. Before the development of ultrasonic cleaners, jet-engine nozzles and oil filters had to be thrown away when dirty. Now imbedded residue can be removed in minutes through the use of sound energy. The sound waves whip the water into millions of microscopic bubbles which burst against the material, ripping dirt away. No transistor core goes to its final assembly package...
...Treasury's argument is that the allowance off taxable income (ranging from 5% for clay to 27½% for oil and gas) was originally conceived as a form of compensation to industries that extract raw materials and thus presumably "deplete" their storehouse of goods. It was meant to apply only to the raw material itself. But recent court decisions have extended the allowance to include a wide range of refined and processed products. Oilmen, for example, are able to compute the allowance on the value of petroleum products made from gas as they come from the cycling plants...