Word: oils
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Dates: during 1940-1949
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...Collisson, 47, stocky, go-getting industrial engineer (onetime chief power engineer, American Gas & Electric Co.), was the hard-working chief of ECA's mission to Germany's Bizonia. As a Navy captain, he had a peculiar wartime job: running strikebound plants (York Safe and Lock, some 60 oil refineries) seized by the Navy. Now he was trying to tap Bizonia's vitally needed industry. "Western Europe," he said, "is like a machine that has run way down. Part needs oiling, part replacing, part overhauling. Before this machine can achieve top efficiency again, every single piece must...
Other new scientific notes: ¶ A surveying gadget built into two small boxes mounted on a trailer (to be pulled by a car or jeep), has been developed by the Sun Oil Co. Starting from a known elevation, an odometer records distance traveled. A pendulum indicates up & down grades, and an electronic calculator works out, by trigonometry, net changes in altitude. Valuable in oil prospecting, the apparatus enables height surveyors to work three times as fast as they could by rod sighting, saves them from such occupational hazards as sunstroke and frostbite. ¶An electronic I.F.F. (identification, friend...
Reason for suspension was that Colombia had just about succeeded in pricing itself out of the oil business. While Venezuela's tough but sense-making petroleum code fostered a billion-dollar industry, Colombia's confusing, ultra-nationalist oil laws had crippled efforts to develop resources. It often took ten years to get an exploration concession through Colombian courts. After that, the million dollars spent on drilling a new well would be subject to tax whether oil was found or not. Extra-legal riders of one sort or another jacked royalties as high as 25%; the total government take...
...Colombian politicos did not seem disturbed by the virtual shutdown on wildcatting. Their country was bigger than Venezuela, they reasoned, with coffee, gold and other cash products besides oil. Many even argued that an oil boom would hinder the country's all-round development, and pointed to oil-rich Venezuela's deficient agriculture and industry for proof. "What will Venezuela have to show for lying supine before the drillers?" snapped a young Colombian oil-ministry bureaucrat. "Holes, that...
...first, President Theodore Roosevelt sneered at McClure's for "muckraking," but Editor McClure assigned his staffers to rake more muck.* Ida M. Tarbell went after the Standard Oil Co.; Ray Stannard Baker, incensed at the land-grabbing railroads, wrote The Railroads on Trial; Burton J. Hendrick spilled his Story of Life Insurance. When aroused state legislatures passed laws checking the excesses of big business, and reform candidates were elected to public office, "T.R." saw the light and grinned. He called S. S. McClure's crusading muckrakers to the White House to discuss trustbusting and business regulation...