Word: petroleum
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Dates: during 1940-1949
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...countries were one war front. Eight declared war against Japan, openly denounced Germany and Italy. Costa Rica and Haiti offered air fields. Colombia promised action "to prevent by all means any menace to the security of the Panama Canal directly or indirectly from Colombia territory." Venezuela strengthened guards at petroleum fields, airports, industrial and military establishments. As Ecuador drafted a pledge of solidarity with the U.S., Guayaquil's El Telégrajo urged that "islands,* ports, coast line, aviation fields and other defense facilities be placed at the disposition of [U.S.] military forces." Panama Canal defenses were in excellent...
...becoming stronger, as is Singapore. Our recent refusal to lift the embargo means that Japan's aftempts to bluff us into deserting China have failed. The longer Japan waits, the stronger will China become and the more will Japanese surpluses of important raw materials shrink--resources like iron, petroleum, copper, and alumninum, for which she depended almost entirely on America...
This alarming news came out of the 22nd annual American Petroleum Institute meeting held last week in San Francisco's Palace and St. Francis hotels. For five days the 3,000 attending oilmen attended round tables, listened to technical lecturers (and a slam-bang harangue by Oil Tsar Ickes), played golf at Del Monte, cavorted with Chinese-costumed information girls. The hotel's 40-ft. bar was so jammed that thirsty newsmen had to fight for a drink...
...Oilmen turned in some of the most cheerful reports. Thanks to larger sales at higher prices, profits of 16 companies jumped 130% over 1940's third quarter to $23,673,000. Phillips Petroleum, which (together with Goodrich) is expanding synthetic rubber production, boosted profits from $2,400,000 in the September 1940 quarter to $4,326,000 this year. Independent Producer Barnsdall Oil sold some West Texas leases, lifted earnings from...
...hundred octane gas may well win the war in the air, for Hitler cannot produce in quantity anything better than 90 octane. Reason: the vital ingredient of the higher octane gas is alkylate, which is made from natural gas or from by-products of petroleum cracking, on both of which Germany is as short as the U.S. is long...