Word: oiling
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Dates: during 1950-1959
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...billion budget . . . Consistency requires that Government programs be evaluated in terms of what must be given up by the increased taxes necessary to pay for them." Parallel path to an eventual balanced budget is stiffening of taxes in areas where the collector's touch is lightest (insurance companies, oil depletion allowance, farm cooperatives) and a broadening of the tax base to "stand the stress and strain of high revenue requirements...
...important post, Lopez Mateos reached outside the Ruiz Cortines ranks; Pascual Gutierrez Roldan, 55, replaced Antonio J. Bermudez as director of the government oil company (Pemex). A conservative businessman who ran up handsome profits as director general of the country's largest steel producer, Altos Hornos, he will no doubt try to cut down waste and featherbedding at Pemex...
...Hollywood's slump. He often suspects that papa was right. Once that businesslike gentleman from Cleveland sniffed scornfully around the movie lots, pronounced one studio a "firetrap" and another "land poor." Soon afterwards, the first studio had a fire and the other has since taken to drilling for oil to boost the bankroll...
Argentina and Venezuela, he noted, are each attempting to restore constitutional government after a long period of dictatorship. But Argentine President Frondizi has had to declare a state of siege to counter the threat of an oil strike led by the Communists and Peronistas, while the future of Venezuelan democracy may depend on the military's willingness to step down in favor of a man whom they had previously deposed and persecuted...
...Last Hurrah. Spencer Tracy as the curly-headed machine politician (James Michael Curley, that is) who ran Boston in blarney and shamrock oil...