Word: oilmen
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Dates: during 1960-1969
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...started out to make Brazil largely self-sufficient in oil, the company's production of crude oil has grown from 990,000 bbl. to 36.5 million bbl. annually, and its refining output has risen from 907,000 bbl. to 90 million bbl. Yet Brazil still depends on private oilmen, both domestic and foreign, for 65% of its crude oil needs...
...newspaper article appeared with statements accusing the general himself of engineering a "major underhanded deal" involving the purchase of $200 million worth of oil from "a large petroleum company"-later identified as U.S.-owned Esso Brasileira. Silva, said a union-nominated director, was a "docile agent" of the Yankee oilmen...
Most Generous. Domestic-oil exploration has changed drastically since the 1956 Suez crisis touched off an any-thing-goes search for more Stateside oil. Renewed imports, tightened state restrictions to guard reserves, and marginal returns from shallow drilling are forcing today's oilmen to drill deeper and to move into states where allowables-the monthly production quotas imposed by the state-are more generous. Louisiana is not only among the most liberal in quotas, but has the best deep-drill prospects. Though Texas still leads all oil-producing states (35.5% of U.S. production), its oil output has declined steadily...
...growth of the oil and gas industry continued the trend. Numerous "struck-it-rich" oilmen moved their families to Dallas, far from the refineries of Houston and the oil derrick forests of East and West Texas. As the oilmen sought to stabilize their money, they invested in Dallas real estate, banks, and insurance companies. After Los Angeles and Houston, Dallas was the nation's fastest growing major metropolis between 1950 and 1960. As a result of their experience in promoting Dallas as the site of the 1936 Texas Centennial Celebration, the city's merchants and bankers organized the Dallas Citizens...
Though nervous, few oilmen expect OPEC to recommend nationalization to member governments, though even a hint of that is an effective weapon in the haggling process. More likely, OPEC will simply try to squeeze more money out of the oil companies by imposing taxes on tanker loadings and pipeline shipments...