Word: petroleum
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Dates: during 1950-1959
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Turn backward, backward, O TIME, in your Aug. 3 reporting on Phillips Petroleum Co. Their first-half per share earnings were up, not down, from...
...with skepticism. They questioned French estimates of reserves; they observed that the Sahara's sweet crude (more than 40 degree gravity) yields far more gasoline than Kuwait crude-but less than half as much heavy fuel oil. France most needs heavy fuel oil for its industry, said Petroleum Week, warning of the danger that "France would soon have gasoline running out its ears...
...Pennsylvania Railroad loss $ .48 New York Central Railroad loss 1.56 Miscellaneous RCA $ .86 1.29 B.F. Goodrich 1.60 2.18 Kennecott Copper 2.07 4.32 Libbey-Owens-Ford .57 3.16 Pepsi-Cola .85 .97 American Machine & Foundry 1.38 2.27 Texaco 2.37 2.79 National Distillers .88 1.05 National Cash Register .96 1.07 Phillips Petroleum...
...Teapot Dome scandal of the 1920s, Sinclair went to jail for six months for contempt of court and the Senate. Doheny was acquitted of charges to defraud the Government and sold control of his Pan American Petroleum & Transport Co. holdings to Standard of Indiana. The ironic aftermath: instead of producing 130 million bbl. as the U.S. had predicted, Teapot Dome depleted itself after...
...self-indulgences institutionalized by Demagogue Juan Perón. Item: per capita gross national product had remained stationary for four years. Item: though Argentina ranked ninth in the world in oil reserves, the inefficient, 37-year-old national oil monopoly forced it to spend $300 million annually to import petroleum and refined products...