Word: oiling
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Dates: during 1950-1959
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Rational Nationalism. López Mateos' main problem in keeping the Mexican boom going is that of any nation with mixed-capital enterprise. Which comes first-enterprise or the welfare state? An example is Pemex, Mexico's government oil company. Subsidized Pemex proudly proclaims itself "in the service of the nation," fulfills the proclamation by keeping prices of its products artificially low and supporting a welter of government social services. As a result, it makes little profit to plow back into development and into the establishment of a much-needed petrochemical industry...
...rdenas, a socialist-idealist, turned out to be no puppet. He threw Calles out of the country and carried on the revolution. He nationalized the oil industry, expropriated the huge haciendas. Peasants took the land that had fed the nation, used it at first to feed only themselves. Finally, the country's communal-farm system evolved...
...Central News Agency in Taipei; many of its features come from 40 uniformed correspondents in forward posts; its local news is gathered by two fulltime reporters. Counting delivery boys, Cheng Ch'i's staff numbers 70. Average salary: $10 a month, plus free firewood, rice, cooking oil, salt, clothing and cigarettes...
Married. Conrad Nicholson Hilton Jr., 32, a vice president of the Hilton Hotels Corp., son of Hotelman Conrad Hilton; and Patricia Blake McClintock, 18, daughter of Tulsa Millionaire (oil, banking) Frank Grant McClintock and Manhattan Socialite Mrs. William Horace Schmidlapp; she for the first time, he for the second (No. 1: Hollywood's Elizabeth Taylor); in Manhattan's Plaza Hotel...
...Carte. A portable gasoline station for shopping-center parking lots was demonstrated by American Petrofina Inc. in Oklahoma City. The battery-powered, 10½-ft.-long cart pumps two grades of gas from two tanks with a 300-gal. capacity, sells oil, dispenses air for tires, water for batteries and radiators...