Word: petroleum
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Dates: during 1950-1959
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CURBS ON EXPORTS to Poland will be greatly eased. Commerce Department is lifting restrictions on a wide list of industrial and farm items, will even consider exporting such strategic goods as petroleum, magnesium, machine tools, electronic components, etc. Department hopes to accelerate U.S.-Polish trade, expects it to jump 130% to about $75 million this year...
...away. No ordinary barge, the contraption bristled with a 140-ft. derrick, a crane, a heliport, had air-conditioned quarters for 50 men. Built at a cost of $3,500,000, it was the most advanced mobile oil-drilling platform ever built, and a device that its owners, British Petroleum Co. and Compagnie Franchise de Petroles, hope will open up a huge new oilfield off the shores of Arabia's Abu Dhabi sheikdom. But while the barge's owners are foreign, the barge itself is thoroughly American, a product of the De Long Corp., one of the nation...
Poor by Western standards, Syria is moderately prosperous as Middle Eastern nations go. Though she has no oilfields of her own, nearly a seventh of her national budget last year came from transit fees paid by Tapline and Iraq Petroleum Co. pipelines across it. (Because the Syrian army sabotaged the I.P.C. pipeline at the time of the Suez invasion, oil is flowing through it at only 40% of its pre-Suez rate.) For all her chronic political chaos, Syria has made notable economic progress since World War II. Irrigation schemes, mostly private, have more than doubled wheat production since...
...still cling steadfastly. They argue that only the president and his executives-men intimately familiar with the corporation's daily operations-can make swift, sure policy decisions. International Shoe Co., the largest U.S. shoe manufacturer, has a 100% inside board to run its highly technical business; the U.S. petroleum industry also leans to inside boards, whose members know all the tricks and pitfalls of their risky business. Says Harmon Whittington, president of Anderson, Clayton & Co., world's largest private cotton broker and a firm with a tightly knit inside board: "I don't think outsiders...
DEFENSE CUTBACKS will begin to pinch oil producers. To keep under Administration's $38 billion defense budget ceiling, armed forces will cut purchases of petroleum products by as much as $170 million a year-a 15% drop. Aviation fuel, special Navy fuel oils will get deepest cuts...