Word: petroleum
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Dates: during 1920-1929
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Fame, unsought and perhaps unwelcome, has come to two of the naval petroleum reserves?Teapot Dome and Elk Hills, immortally linked with Harry F. Sinclair and Edward L. Doheny. These reserves may well be envious of their younger brother, reserve No. 4, which is just about to be explored. Last week a telegram reached the Department of the Interior. It stated that Dr. Philip S. Smith of the Geological Survey had just left Nenana, on the Alaskan Railway, with a dozen men and 140 Eskimo dogs, going out into the unknown...
...Naval petroleum reserve No. 4 is about 35,000 square miles in area. North of the Yukon lies a mountain range. North of the mountain range is the reserve...
...known, however, if the oil will be of good enough quality or of sufficient quantity to warrant the establishment of a petroleum industry in Holland...
...most striking gain in our exports to Latin America was in automobiles; other large items were naval stores, cotton hosiery, building lumber, petroleum, and its products, tin plate, wire nails, machines for sewing, printing, adding and harvesting. Motion picture films are also on the increase among our exports...
...regular cycle in the oil industry seems to be: 1) activity in oil shares as they rise in price; 2) inflow of new capital into the oil business; 3) advancing prices for crude and fined petroleum; 4) overproduction. Just now we seem to be stage in 1, with 2 and 3 beginning. Several years will probably be consumed before the oil is as flat and unprofitable as it was last fall...