Word: petroleum
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Dates: during 1950-1959
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...they followed the Iraq Petroleum Co. pipeline eastward toward Teheran, open desert stretched for miles on either side, and there was no road of any kind, nothing but the pipeline to mark the route. Yet out of the blue came an Arab truck headed straight for the leading Land Rover, which hastily stopped. Swerving at the last moment, the Arab sideswiped it, tearing a rear fender, and drove on unconcerned...
...shortage of technicians includes the engineering categories of chemical, chemical research, civil, communications, electrical, electronics, highway traffic, marine, metallurgical, petroleum, radio, and textile...
Money on the Farm. The picture was the same in oil, construction, farm machinery and aviation. New markets in petrochemicals, natural gas and increasing auto travel boosted Phillips Petroleum's 1955 profit to a record $95 million, 25% more than 1954; the company will spend $200 million on expansion in 1956 and confidently predicts still higher earnings. The boom in business flying brought light-plane-maker Cessna Aircraft sales of $16 million for fiscal 1956's first-quarter, 30% more than a year ago. In housing, the demand for home and factory insulation materials pushed Johns-Manville Corp...
FAST TAX WRITE-OFFS on 21 types of defense projects will be reinstated by the Office of Defense Mobilization. Among the expansion goals reinstated: airport facilities, iron ore, diesel locomotives, truck terminals, railroad passenger cars, petroleum pipelines...
...operators in Venezuela. The presumed reason: Venezuela has become fearful of its dependence on the U.S. market, always open to pressure from the well-oiled tariff bloc in Congress, and wants to get a cut of the European market as a hedge. Preference or no preference, huge Creole Petroleum Corp., a Standard Oil Co. (N.J.) affiliate, announced a $200 million expansion program, and prepared to bid for new concessions...