Word: petroleum
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Dates: during 1950-1959
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...Fifth Avenue Baptist Church. "With his hereditary grip on a nation's pocketbook," sneered the Pittsburgh Press, "his talks on spiritual matters are a tax on piety." From the pulpit of St. Bartholomew's, the Episcopal Bishop of Michigan snorted: "The odor . . . smacks strongly of crude petroleum...
...COMPANIES are starting to strike it rich in uranium. Phillips Petroleum Co. has uncovered high-grade ore body with estimated 1,500,000 tons of ore on 1,280-acre lease previously shared with Holly Minerals Corp. near Grants, N. Mex., has started talks with AEC to construct processing mill...
...Creole Petroleum Corp., a Standard Oil Co. (N.J.) affiliate and Venezuela's biggest producer, bought 24,700 acres of underwater concessions in Lake Maracaibo, where a saucer of water lies over what seems to be an ocean of oil. Creole also took on 98.800 acres of exploration concessions in lands of still unproved value. Total cost: $25 million...
...simplest way would be to fetch oil straight across the Atlantic, from Venezuela, the West Indies and the U.S. (see HEMISPHERE). Alternatively, Britain's Ministry of Fuel and Power has prepared a rationing plan that would slash petroleum consumption-a distasteful step but one which the British could take...
...discoveries and output. Argentina's President Pedro Aramburu told a gathering of representatives from oil-producing provinces that the national oil agency, YPF, had been put on a new autonomous status so that it could get on with its work. ''The Argentine future in petroleum is extraordinary." said Aramburu, predicting self-sufficiency in oil by 1959. Foreign oilmen ventured that YPF, now producing less than half of the oil Argentina consumes, could not meet the goal...