Word: oilmen
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Dates: during 1940-1949
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This alarming news came out of the 22nd annual American Petroleum Institute meeting held last week in San Francisco's Palace and St. Francis hotels. For five days the 3,000 attending oilmen attended round tables, listened to technical lecturers (and a slam-bang harangue by Oil Tsar Ickes), played golf at Del Monte, cavorted with Chinese-costumed information girls. The hotel's 40-ft. bar was so jammed that thirsty newsmen had to fight for a drink...
...rose Ickes' deputy Ralph K. Davies. He warned oilmen that for three years they had been depleting oil reserves faster than they had replaced them-"the margin of safety is fast narrowing." If burned up at the present rate (1,450,000,000 bbl. a year) proven U.S. oil reserves would last less than 14 years...
...Oilmen turned in some of the most cheerful reports. Thanks to larger sales at higher prices, profits of 16 companies jumped 130% over 1940's third quarter to $23,673,000. Phillips Petroleum, which (together with Goodrich) is expanding synthetic rubber production, boosted profits from $2,400,000 in the September 1940 quarter to $4,326,000 this year. Independent Producer Barnsdall Oil sold some West Texas leases, lifted earnings from...
...from oil-company taxes. President Avila Camacho might well find U.S. oil know-how and oil capital useful-if only a way could be figured to save the face he must turn to his anti-gringo voters. One such face-saver would be a public admission on U.S. oilmen's part that they could have behaved more simpaticamente toward Mexico in the past, are resolved to do better in the future...
...coal and oil deposits were formed, there prospered a hard-shelled order of protozoa, the Foraminifera, which were sometimes two inches but usually less than a millimeter across. Micropaleontologists watch for these and do not overlook the fragmentary remains of such creatures as worms, starfish, sea urchins, etc. When oilmen strike a wildcat gusher, they sometimes spend from $1,000 to $2,500 for an analysis of the microfossils which characterize it, so that finding another such well will depend less on luck...