Word: petroleum
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Dates: during 1920-1929
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...industries are as unstable as that which is concerned with the production, refining and distribution of petroleum. It is always either a feast or famine. Until only a few weeks ago, the famine element seemed uppermost; overproduction had created a great surplus of crude oil for the oil companies to carry, prices were declining precipitously, and disaster was frankly anticipated by the trade. But meanwhile the consumption of crude oil and its byproducts, continued to increase. The huge production of automobiles demanded greater amounts of gasoline than ever. Large office buildings and hotels have adopted oil heating systems. Some railroads...
...Edward L. Doheny, head of the Mexican Petroleum Corporation, for 30 years a personal friend of Fall, according to his admission, lent Secretary Fall $100,000 in cash on an unsecured demand note bearing no interest...
...course that would avoid all shoals and reefs for the ship of state. Rebel gunboats had blockaded Tampico, 300 miles from Vera Cruz, and threatened to hold up American shipping going to and from the oil fields. After the Cabinet meetings, Secretary Hughes consulted with representatives of the Petroleum Producers in Mexico...
...these expressions Archibald B. Roosevelt and Colonel Theodore Roosevelt, Assistant secretary of the Navy (sons of the late President), appeared before the investigating Committee and volunteered testimony. Colonel Roosevelt little more than introduced his brother "Archie Roosevelt declared that he had just resigned as Vice President of the Union Petroleum Co., the export auxiliary of the Sinclair Consolidated Oil Co., because his suspicions had been aroused over the activities of the Sinclair interest in connection with Teapot Dome. Following Senator Caraways declaration Mr Sinclair had sailed hurriedly for Europe, and he believed several others connected with the affair had done...
...production of gasoline last year was estimated at 179 million barrels, or 31 millions over 1922. Surplus stocks of crude and refined petroleum on Jan. 1, 1924, aggregated 465 million barrels-an increase of 93 million barrels over the stocks a year...