Word: oils
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Dates: during 1940-1949
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...feet, as essential to European recovery. He had enraged them in the Palestine dispute by urging that the U.S. be mindful at the same time of Arab friendship. As Secretary of National Defense he stoutly defended this policy as necessary to protect the U.S.'s Middle East oil supplies and its vital chain of Middle East air bases. His critics did not give him credit for that kind of reasoning, whether it was wrong or right; they merely shouted "Wall Street...
Born. To Gretchen Eraser, 29, pert, brown-haired 1948 Olympic ski champion (first American to win an Olympic ski race, the women's special slalom), and Donald W. Fraser, 35, Vancouver, Wash. oil distributor: their first child, a son; in Portland, Ore. Name: Donald Jr. Weight...
...told, 37,000 U.S. wells were sunk, including one 27 miles out in the Gulf of Mexico; 8,000 miles of pipelines were laid, and 62 tankers were being built to bring in oil from South America and the Middle East. Domestic demand kept rising also until it reached 622 gallons per capita, v. 464 in 1941. Yet oil production at year's end was 17% above the wartime high; the shortage had been licked so thoroughly that some oil prices had started to drop...
...only slightly more than it had been in depression 1932; production per capita -.as below 1941. Those who talked of "abnormal demand of the boom" failed to take into account the fact that much of it would be normal demand from now on, not only for steel, but for oil, autos, schoolhouses, homes, clothing and everything else. At year's end the population stood at 148 million, up 3,000,000 more consumers during the year...
...fast 22-day climb, led by the oil stocks, Dow-Jones industrial averages went from 180.28 to 191.06, and the rail averages went from 57.97 to 62.27. Both of them "broke through" their previous high marks, established in 1947. For the large number of investors who swear by the Dow Theory, the "breakthrough" meant that the bear market was finally over, the bull market had arrived...