Word: oilman
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Dates: during 1940-1949
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...help his inefficient monopoly, landed a bigger fish. He signed a contract with a new company, the Mexican American Independent Co., giving it a twelve-year concession to drill wells along Mexico's tidelands near Yucatan and elsewhere. The new company was formed when Edwin W. Pauley, California oilman and good friend of President Truman, joined up with Ralph K. Davies. of the American Independent Oil Co. (TIME, Sept. 1, 1947) and Samuel B. Mosher of California's Signal Oil & Gas Co. The new Pauley company would, get 50% of all production until its drilling expenses were paid...
...Washington went Oilman James A. Moffett. As chairman of two of Aramco's affiliated companies, and onetime $125,000-a-year vice president of Standard Oil Co. (N.J.) and later of Standard Oil Co. of California, gregarious Jimmy Moffett knew the oil business inside & out. As onetime Federal Housing Administrator and an old friend of Franklin D. Roosevelt, he also knew politics and politicos. He soon fixed things so that Ibn Saud was taken care of. But Jimmy Moffett complained that nobody ever took care of him for being such an influential person. Six years later he sued Aramco...
...concession in Ibn Saud's half of the neutral zone, California's independent Oilman J. Paul Getty offered a reported $9,000,000 down, a minimum royalty of $1,000,000 a year, a royalty of 55? a barrel, and a 25% interest in the company. This was so much more than any other company offered that oilmen were aghast. Furthermore, the world oil supply was already so ample that U.S. imports from the Middle East and Venezuela are being cut back. Last week there were signs that gasoline prices might soon be coming down. In view...
...Lawrence worked out the first needle that will quickly rip a seam by "unlocking" the bobbin stitch. When the Lawrence-Walls "ripper" was first demonstrated a month ago, Birmingham housewives bought 5,000 (at $1 each) in four hours. Last week the inventors granted exclusive manufacturing rights to the Oilman Corp. of Janesville, Wis., a subsidiary of Parker...
...Texas Oilman Jack Wrather and some well-heeled friends decided to make a contribution to the local Boy Scouts; they spent $22,000 in drilling a well near Longview, struck oil, turned the operation over to the boys. Expected income: $900 a month, plus $125 for Girl Scouts...