Word: oilmen
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Dates: during 1960-1969
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...Crucible Steel has become the world's largest manufacturer of steel for tools. Sharon Steel of Sharon, Pa., is a major producer of the strip steel that goes into office furniture and such auto parts as dashboards. Texas' Lone Star Steel converts local ore into pipes for oilmen, boasts overnight delivery to almost any driller in the Southwest. Says Lone Star Chairman George A. Wilson: "We've just got to give better service than the bigger companies, and do a good job of salesmanship...
...back on its feet. Argentine steel production is three times what it was in 1961; auto production is climbing rapidly; and commercial bankruptcies are declining. Following Illia's one decisive act-annulling foreign (largely U.S.) oil contracts-many economists expected a heavy flight of capital. But the oilmen are fighting their case through the courts, and other investors are keeping their money in the country...
...main prize, of course, is still oil, and the gas strikes have convinced Australian oilmen that it is there, since oil is often found in the ground beneath gas pockets. The only sour note comes from Australia's coal industry, which is afraid that oil and gas would steal its market for generating power. Plentiful petroleum, warns Australian Coal Association Chairman Sir Edward E. Warren, could "destroy the indigenous coal industry on which whole communities depend." The complaint puts some politicians in the unusual position of refereeing a fight between coal and oil before an oil industry even exists...
...drilled a 3,280-ft. well on a farm, but really got going last fall when two gushers came in almost at once. Last week alone, Ohio authorities issued 112 permits for drilling in Morrow County, bringing the number issued to nearly 1,000. In 450 attempts so far, oilmen have brought in 162 producing wells. Derricks have sprung up in clusters on front lawns, in narrow alleys and in vegetable gardens; one producing well occupies what was once home plate on the baseball field at the Edison Junior High School (the team will play all its games away this...
...been able to determine the exact size of the Morrow County oil reservoir. So far, the 162 wells are producing 27,000 barrels daily of a good grade of petrochemical crude, for which Ashland Oil & Refining Co. and Pure Oil Co. pay $2.92 per barrel. Experienced oilmen feel, however, that the potential yield of the Morrow County field is being rapidly reduced by the drilling of too many wells in one small area, a practice that diminishes the subterranean gas pressure needed to force out the oil. But just in case the Morrow County field should turn...