Word: oilmen
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When British and U.S. Government oil experts sat down in 1944, with U.S. State Department blessings, and agreed on a broad policy to stabilize markets in the postwar world, the U.S. oilmen were worried. President J. Howard Pew of Sun Oil Co. attacked the agreement as a "blank check" to the Government that would involve the domestic oil industry in a "vicious cartel system...
...Senate refused to ratify the agreement. Since then, the source of the anti-cartel rumblings has changed. Last year the Federal Trade Commission prepared a secret 900-page study of the situation. Last week Missouri's Senator Tom Hennings, probably prodded by independent oilmen, exploded the whole question into the open, thus forcing the Attorney General to order a grand jury investigation. Said Hennings: "Prices are predetermined and fixed by the Big Seven* under an ingenious basing point system [which] runs under the direct supervision of central authorities in London and New York with the precision of a fine...
...companies of northwestern Colombia, the Motilon Indians of the jungle-tangled mountains are an industrial hazard. The Motilones (mo-tee-loan-es) ambush trucks, shoot 6-ft. arrows through the oilmen's tents-and sometimes through the oilmen. What is worse, they give the oilworkers' union a hard-to-answer argument for extra hazard...
...Years of Enemies. The political enemies that Warren had made in nearly ten years as governor-Republicans who don't like his bipartisanship, doctors who dislike his compulsory state health insurance proposals, oilmen who oppose his state gasoline tax-lined up behind Werdel who had lots of money to spend on the campaign. California observers who understand what Warren was up against consider that he did well to poll 997,609 votes against Werdel's 509,205. But outside the state, what will register is the size of the vote against Warren...
...Along with the new fields, the industry's greater knowledge and growing technology have enabled it to get still more production out of oil fields. Some, like California's Ventura, had been thought exhausted. Shell has proved up new reserves by drilling its old Ventura wells deeper. Oilmen are now drilling through the bottom of old wells in South Texas, looking for deeper pay sands. Use of gravity-meters and perfected seismograph techniques now enable prospectors to pinpoint formations which could contain oil. But to find out whether oil is there, no substitute has been found...