Word: petroleum
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Dates: during 1950-1959
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...start in small rockets, is now producing the big (100,000-lb. thrust) first-stage rocket for the Vanguard earth satellite. Curtiss-Wright is producing small antitank rockets for the Army, is working on a throttle-equipped" rocket engine for planes and missiles. Bell Aircraft, Hercules Powder, Phillips Petroleum, General Motors and many others are developing new engines and materials to fuel them...
...government and the foreign-owned companies. La Petroquímica's action in building refineries, which primarily make fuel rather than the raw materials of petrochemicals, is a clear statement that Venezuela intends to move to some degree into the oil business. Says Caldera, who used to teach "Petroleum Policy and Economics" at Caracas' Central University: "We are interested in building a new Venezuela, and we want to do it by ourselves because we know best what is necessary...
...nation that introduced the 50-50 split for oil profits, now the pattern in most parts of the world, is pioneering another oil-derived benefit certain to catch the envious attention of petroleum-rich countries in the Middle East and elsewhere. Using oil income and hitherto wasted natural gas, Venezuela is building itself a $300 million basic industry in petrochemicals...
...their R-N rotary-kiln process developed in Birmingham. Unlike the other processes, this one employs a solid carbon fuel instead of a reducing gas. ¶Arthur D. Little, Inc. (TIME, April 1) is developing its own process, using patents from the Esso Research & Engineering Co. It was petroleum scientists who first learned how to extract hydrogen cheaply from natural gas or petroleum, and also how to use gas pressures from below to smelt ore. This "fluidized bed" method of ore-handling is used by all direct-reduction processes except the R-N method. ¶Hydrocarbon Research. Inc. and Bethlehem...
...capacity will be built for $48 million by U.S.-British-Dutch combine. With existing Turkish state plant, it will supply nation's entire oil needs. Mobil Overseas Oil Co. will have 37% interest, California Texas Corp. 34%, Royal Dutch Shell group 18%, British Petroleum...