Word: petroleum
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Dates: during 1920-1929
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...chemists, Labor wants this law changed (TIME, Oct. 24). For yet other reasons, oilmen want this law changed. When interviewed, President Coolidge said he recalled no letters from industrial chemists about the anti-trust law, adding that he thought oilmen had the. most legitimate grounds for seeking a change. Petroleum is limited in the U. S. If U. S. oilmen are not permitted to combine and limit production, U. S. oil will soon vanish...
...Henri Wilhelm August Deterding, born Dutch, naturalized Briton, Director General of the Royal Dutch Petroleum Co., delivered himself in Manhattan last week of a biting criticism of the Soviet regime, particularly regarding the condition of the Russian oil fields and their administration...
...Mexico (5,-290,807 barrels against slightly more than 5,000,000 barrels) definitely ranked Venezuela as the third largest oil yielding country, exceeded only by the U. S. and Russia. The largest U. S. corporation working Venezuelan fields is the Lago Oil & Transport Co. (subsidiary of Pan American Petroleum & Transport Co.); larger than Lago is Venezuelan Oil Concessions Ltd. (subsidiary of Royal Dutch). Distance from Lake Maracaibo, Venezuela, to U. S. Atlantic coast ports is 1,500 miles; from Tampico, Mexico, 1,900 miles...
...significant deposit items were recorded last week by the Los Angeles branch of the Federal Reserve Bank of San Francisco. The deposits were to the credit of the Treasurer of the U. S.: from the Pan American Petroleum & Transport Co., $11,092,264.82; from the Pan American Petroleum Co., $1,920,886.94? Total...
...Secretary Hubert S. Work of the U. S. Department of the Interior asked the Association's mineral law section to urge the next Congress to legislate to conserve U. S. petroleum and gas resources, now being wasted through too much competition. Henry L. Doherty seconded Mr. Work, offering a brief for Federal adoption or promotion of the pool plan of conservation introduced last spring in the Seminole, Okla., field (TIME, May 23). James A. Veasey, counsel for the Carter Oil Co. at Tulsa, Okla., submitted that, though the industry is now overproduced and demoralized, it can right itself; Federal...