Word: petroleum
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Dates: during 1930-1939
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...Marmaduke Grove who became the new Head of the State (TIME, June 20). Lying low as a leopard, Don Carlos did not contradict rumors that he would let Col. Grove send him to Moscow as Chilean Ambassador. In Moscow his job would be to barter Chilean nitrates for Soviet petroleum. But instead of leaving for Moscow, Don Carlos circulated among army officers of his acquaintance...
...lined up, was not given out but the Press learned that Socony's Arnott was in favor of a plan by which the world's big export companies would buy Russia's exports for the next ten years. By then Russia should be consuming all the petroleum she produces. By distributing the present Russian surplus among all companies, world price-wars would be avoided. Hope was that Russia could be kept from producing for export any more than she exported last year. Another subject much discussed was the allocation of territories to avoid such com petition...
While the meetings consisted largely of private discussions, oilmen wondered if Socony-Vacuum's Arnott was not bidding for leadership of the world's petroleum industry. It was he who called the conference, he who held a daily meeting with newspapermen...
Although it is expected that 1932 gasoline demand will show a decrease from last year-the first recession ever recorded -the industry last week was in better shape than for some time. From last summer's lows of around 20? per bbl. petroleum has risen slowly until last week, when it stood at 86?. Still a critical factor is the prodigious East Texas field, now 20 months old. Its production is controlled by the Texas Railroad Commission. Last week 160 new wells were completed in this field, bringing the total to 5,442. Its average daily flow...
...Flashy with diamonds is Lobbyist Wirt Franklin of the Independent Petroleum Association. He got his tariff in the tax bill...