Word: petroleum
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Dates: during 1950-1959
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...nationalists howled lustily, but Jánio ignored them. The significance was that a shrewd and ambitious politician can now say out loud in Brazil that nationalism is better served by whatever means will get Brazil the petroleum the country thirsts...
...Viet Nam) is concerned. Other nations follow no such double standard for Eastern Europe and Asia. They will now be allowed to export to any country that wants them such newly freed items as civil aircraft (including turboprop), all kinds of trucks, tankers under 18 knots, industrial diamonds, all petroleum refinery equipment, all turbines and diesel engines. But for all their cries that the relaxed embargo was a victory of "common sense," the U.S.'s allies expect no dramatic rise in trade with Communist countries that have shown themselves so guided by political whims, so chronically plagued...
...billion worth of oil development contracts were closed or nearly closed with a long list of foreign oil companies and investors. Argentina has an estimated 2.3 billion bbl. of oil in underground reserves, but snail-slow development forces the country to spend about $300 million a year for imported petroleum and petroleum products...
Housing starts increased in June for the fourth consecutive month, steel production has declined only seasonally (while new orders held up), petroleum output increased and is scheduled to gain further in August, and demand for natural and synthetic textiles has firmed. Last week the Federal Reserve Board reported that department store sales for the previous week were running 3% above the 1957 level. Adding to recent gains in manufacturing employment and hours, the Big Three automakers announced plans to recall 182,000 workers to work on the 1959 models. And though the rate of inventory cutback continued in June...
...RICH ALGERIA will get its first refinery, and it will be North Africa's biggest yet (daily capacity: some 40,000 bbl.). Plant will be built, probably near Algiers, by combine of Mobil Oil, Standard Oil (N.J.), Shell, British Petroleum and three French firms...