Word: oiling
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Dates: during 1950-1959
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...opportunity. He is quietly moving the officers of his 200,000-man army into key positions. Lieut. Colonel Suprajogi has taken over the newly created Ministry of Economic Stabilization; Colonel Rudy Pirngadie has been assigned to the task of drawing up a new law for future mining and oil exploitation, a matter of vital interest to such firms as U.S. Stanvac and Royal Dutch Shell. In the nationalized Dutch Handelsbank, the new supervisory body consists of an army captain, a police officer and a bank official. When a labor representative from the Red-dominated SOBSI labor federation demanded a seat...
...years of legal politicking, he built Acción Democrática, the strongest popular political party Venezuela has ever known, and served as the country's provisional President for two years. In office he worked out the world's first 50-50 government-company split of oil profits and oversaw the first truly free election in Venezuelan history. Last week, after the second free election, Betancourt was President again...
Nowadays, puffing his pipe and peering through thick-rimmed glasses, Betancourt is a picture of stability, calm, reason. But much of the old leftist is still there. He announced last week that although present oil concessions to foreign interests are safe, Venezuela will grant no more concessions. He promised to form a government company for further oil development. Moreover, 50-50 is on the way out: "I could not say that 50-50 should be converted to 75-25, but this matter should be the object of serious studies by technicians." He will doubtless renew-with less disruptive speed...
Compared to all the hot talk, the opinions of incoming N.A.M. President Stanley C. Hope, 65, onetime president of Esso Standard Oil Co., were calm and restrained. A native of Springfield, Mass., Hope was president of an oil-equipment company before joining Esso, after his retirement last July joined SoundScriber-Corp. of New Haven, Conn, as president -on a three-day-a-week basis...
...research has brought some exciting new inventions, such as a carbonless carbon paper (chemically coated sheets that reproduce type on impact). While working on this, N.C.R. discovered a method of enclosing liquid in microscopic gelatin capsules, thus making a liquid look and act like a solid. So treated, castor oil becomes tasteless-because it is covered with gelatin. More than 1,000 companies are investigating the process to see if it can be used for their own products, and the Pentagon has contracted with National to "encapsulate" liquid rocket fuel so that it will pack the power of liquid propellant...