Word: petroleum
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Dates: during 1920-1929
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Recently TIME (July 27 issue, Page 3) made a statement relative to a decision by the Carter Oil Co. to eliminate the twelve-hour day in the petroleum industry, thus "setting the example" for the industry and following a similar decision of the United States Steel Corporation. It was further stated that the twelve-hour day has always been the working basis in the oil fields...
Thirteen years ago the Standard Oil Co. (Calif.) completely eliminated the twelve-hour day in all branches of its operation on the Pacific Coast, and almost immediately the same policy became a fact throughout the petroleum industry in California...
...Synthol." The Du Font interests would manufacture, the Standard Oil Co. of N. J. distribute, a new synthetic motor fuel to be called "synthol," made from coal, petroleum or lignite. To burn synthol, a new automobile motor had been devised, the most powerful of its size, very light, needing no gear shift, emitting no poisonous fumes, having no carbon troubles, getting 50 miles per fuel gallon, more like a steam engine than an internal combustion engine. The General Motors Corporation would manufacture this motor, install it in all its cars (Buick, Cadillac, Chevrolet, Oakland, Oldsmobile). So said...
Standard Oil evidently prefers to train its executives rather than acquire them through mergers. Last spring, Standard of Indiana acquired the Pan-American Petroleum and Transport Co. from Edward L. Doheny (TIME, Apr. 13). Potent in Pan-American was Herbert G. Wylie, long an able Doheny lieutenant. Shortly after the merger, Mr. Wylie found his occupation gone. Pan-American was now a subsidiary, and no longer an independent. Decisions were made by the Standard of Indiana heads, and the Presidency of "Pan Pete" became a sinecure job, without responsibilities or possibilities for individual initiative. This development little suited...
...maintained a service in domestic and foreign distribution of mining products, 2) collected statistics on mineral production, 3) collected statistics on production of explosives, 4) tested the strength of wire rope, 5) conducted research into the uses of mineral raw materials in manufacture, 6) carried on research into petroleum products, 7) conducted research into the use of raw materials in porcelain manufacture, 8) made fuel tests...