Word: oils
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Dates: during 1940-1949
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Sound of Niagara. By last week, this peculiar state of mind had not only sucked thousands of American oil wells dry, stripped the rubber groves of Malaya, produced the world's most inhuman industry and its most recalcitrant labor union, but had filled U.S. streets with so many automobiles that it was almost impossible to drive one. In some big cities, vast traffic jams never really got untangled from dawn to midnight; the bray of horns, the stink of exhaust fumes, and the crunch of crumpling metal eddied up from them as insistently as the vaporous roar of Niagara...
...producing oil wells, which are operated by Humble Oil & Refining Co., have so far paid royalties of $3,250,000. They are but the first dribbles out of what may prove to be a new major Texas pool...
...room main house is usually filled with guests (samples: Lord & Lady Halifax, Standard Oil's Eugene Holman, Nelson Rockefeller, Mrs. Will Rogers) or with business visitors. A steady stream of agronomists, geneticists, and breeders from all over the world come to see at first hand (and are fed and boarded with traditional Texan hospitality) the work of Master Cattleman and Breeder Kleberg...
...ranch sells virtually all its cattle to Swift & Co. to keep from driving down prices by open sales.) Sales of breeding bulls bring in another $150,000 or so. But the expenses are huge, too. Real estate taxes run around $200,000, gasoline and oil take $48,000, land-clearing $120,000. The payroll for the 500 employees is over $400,000. At best guess, the ranch this year should net over $1,000,000 before income taxes...
Sunrise. Standard Oil Co. of New Jersey followed Sun Oil Co.'s lead (TIME, Dec. 8) and boosted its buying price of crude by 50? a barrel. By week's end, the new price pattern had been established east of the Rockies and showed signs of spreading to the West Coast, where Union Oil Co. of California had already led off with a 40? increase...