Word: oilmen
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TIDELANDS DRILLING will be resumed after four-month stalemate between State of Louisiana and U.S. Government. Though battle over ownership of area more than three miles offshore must finally be settled by U.S. Supreme Court, Louisiana and Government have signed interim operating agreement so that oilmen can keep on drilling and exploring until court rules, probably some time next summer...
Among the top ten are three big oilmen and a former lawyer. Also on the list is an Ohio gambler whose method made history. Ranging through football-talented Ohio and Pennsylvania in the 1940s, he spotted prospective stars, would sometimes offer to send them to college. The boys never knew his profession, but the evening before a big game he would put through a friendly call, find out in passing about the team's prospects. Most respected big gambler of all is a former securities analyst who lost his job with a large bank because, among other things...
...southward, the water is lined solid with oil activity-war-weary landing craft being converted into tenders for offshore drilling rigs, big yards piled high with pipe, well-cementing companies, plants where the giant offshore rigs are fabricated. At intervals, veinlike side canals branch off into the marshes, where oilmen have dredged passageways to float equipment into their fields and float oil barges back from the wells. Virtually every big company has fields, tank farms, refineries along its banks clear down to Corpus Christi-Texas Co., Standard Oil of N.J., Superior Oil, Magnolia, Kerr-McGee Pure Oil, Cities Service, Shell...
...national reserve concessions were said by oilmen to be "money in the bank." Others, although they lay in about 100 ft. of water and 20 or 30 miles out from the present forest of more than 2,000 derricks that stud the lake's northeastern shallows, were highly promising. But the exploration areas that in most cases came packaged with the exploitation concessions were not so much ready wealth as they were another "special advantage" for Venezuela. One reason for suddenly selling new concessions after a dried-up decade is that Venezuela needs to get outlying regions explored...
...government of President Marcos Perez Jimenez, bent on buying popularity through a spectacular splurge in roads, schools and public housing, is pouring out even more than its whopping oil income of about $600 million a year. Selling new concessions is a way to get plenty of quick cash. With oilmen flying south on nearly every plane, and with the likes of Texas' Multimillionaire Wheeler-Dealer Clint Murchison settling down in Caracas' Hotel Tamanaco, the Gaceta Oficial will probably print a lot more exciting news in coming months...