Word: oils
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Dates: during 1940-1949
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...Oil and politics formed a high-octane mixture in Paraguay last week. The Union Oil Co. of California had begun what it called "the greatest wildcatting venture in history": the oil exploration of the entire Paraguayan Chaco, some 55,000,000 acres...
...Paraguay's President Higinio Morinigo had dined in Manhattan with a director of Union Oil. As Morinigo hoisted his food, he dropped a hint: oil gushed in the Bolivian Chaco, why not in the Paraguayan Chaco? The hint became a project. Soon three Union Oil geologists hacked their way through the Chaco brush. They reported that the region had a geological structure characteristic of oil fields...
...glad news apparently leaked. For when Union Oil began negotiations for a contract with the Paraguayan Government, it met stiff competition from British and U.S. companies, and from the Argentine Government. Finally, the company signed a complicated agreement. It would pay an annual rental, and would give Paraguay up to 15% of any oil it produced...
...contract surprised diplomats, who had long written off landlocked Paraguay as the slave of Argentine's peso-diplomacy. An oil-rich Paraguay, in partnership with a non-political U.S. company, might thumb her nose at her big and bossy neighbor down the Paraná River...
Cornell, who went to Italy last August for two months (sponsored by the American Theater Wing), will soon round out a six-month European tour. After 77 Italian performances in 78 days, and 60 more in France, The Barretts was shivering in Paris last week. Oil burners were hidden around the stage; Actress Cornell was draped in a lace centerpiece to hide her khaki-underwear neckline...