Word: oiling
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Dates: during 1980-1989
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...there is a kind of advertising peculiar to the NASCAR circuit. If you look carefully enough, you will see some 40 four-by-six-inch ads for oil, gas, rubber, and equipment crammed onto the front fenders of these racing machines. The stickers are the same on almost every other car, which may mean that these products are the "official" products of NASCAR...
According to Texaco lawyers, the IRS claim relates largely to the company's oil dealings between 1979 and 1981. As a member of a consortium known as the Arabian American Oil Co. (Aramco), Texaco bought crude from Saudi Arabia for $28 per bbl., even though the official going rate was $32 per bbl. The IRS appears to be saying that Texaco should have considered the $4-per-bbl. price break to be income and paid taxes on it. The other members of Aramco -- Exxon, Chevron and Mobil -- could also face penalties, but they have not heard from the taxman...
When the supertanker Amoco Cadiz foundered in 1978, spewing 68 million gal. of crude oil over the beaches of Brittany, it created the worst petroleum spill ever to hit land. It also launched one of the world's stickiest legal battles. The French government and a host of other plaintiffs claimed $1.6 billion in damages...
...silk as Chinese and Japanese masters had done for millenniums. When the Tokyo School of Fine Arts opened in 1887,its American co-founder, the "Boston bonze" Ernest Fenollosa, insisted that it teach only traditional Japanese techniques. But by 1896 most of its students were petitioning to learn oil painting, and a Western department had to be set up; thereafter, it was the most popular part of the school...
Royal Decree M/13 struck the 4 million foreigners living in Saudi Arabia with the force of a sandstorm. Prompted by sagging oil prices and a projected $10 billion budget deficit, King Fahd declared by edict last week that foreigners, including 35,000 Americans, must pay income taxes of up to 30% for individuals and 45% for companies...