Word: petroleum
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Dates: during 1920-1929
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Both to harry Standard Oil on the flank and to boom up Royal Dutch-Shell goodwill throughout the British and Dutch possessions, Sir Henri has been shouting harsh things about Russian petroleum. That oil comes from wells once owned in part by British investors but now confiscated by the Soviet. Standard Oil has been buying it to sell in the East, where it has few wells, but where Royal Dutch-Shell has many. It is more profitable to Standard Oil to ship petroleum from Russia to India than from California to India. Sir Henri, therefore, has been crying loudly that...
...Costa Rica, Panama; to Angola, in Portuguese West Africa; to Russia. Sinclair's technique was to approach the government of a country with the flyleaf of his checkbook showing. "Men mumble but money talks," is an old oil adage. He would ask for a franchise to prospect for petroleum. If he found some, the government could have it all, except for a million or so acres. Sinclair always got his acres along the coast, where his tank-ships could put in. The oilfields he obtained this way soon brought Sinclair Consolidated's holdings...
...petroleum regulations just promulgated by President Calles . . . would appear to bring to a practical conclusion the discussions which began ten years ago with reference to the effect of the Mexican Constitution and laws upon foreign oil companies. The Department feels, as does Ambassador Morrow, that such questions, if any, as may hereafter arise can be settled through . . . the Mexican administrative departments and the Mexican courts...
Paradoxically light was being thrown upon Sir Henri himself, last week, from Manhattan. There President Richard Airey of the Asiatic Petroleum Co., a Royal Dutch subsidiary, declared: "I wish to dispel a popular illusion that Sir Henri Deterding has changed his nationality from Dutch to British. . . . Living principally in England, as he does, he prefers to be known by his British title . . . but he has never changed his nationality...