Word: petroleum
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Dates: during 1950-1959
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...regulate the nation's 3,000-odd independent natural gas producing companies (those not owning their own pipelines), a battle has raged over the question: What is a fair profit for independents? Last week the FPC finally had an answer. In a test case involving the Phillips Petroleum Co. of Bartlesville, Okla., FPC Presiding Examiner Joseph Zwerdling recommended that Phillips be permitted a 9.25% return on its investment. The rate was a compromise between the 18% return asked by Phillips and the 6% return that FPC has been allowing integrated pipeline companies which own their own wells...
While the decision was by no means as generous as many natural gas companies would have liked, it still came as an overdue relief. The original Phillips Petroleum rate-making action was begun by FPC in 1948, dropped when FPC decided it had no jurisdiction, started again when the U.S. Supreme Court said that...
...land. Thus, though Iraq is the only Middle East country with plenty of both oil and water, its peasants were as wretched as any in all Asia. And though much of the $200 million-a-year revenue that the government drew from the British-run Iraq Petroleum Co. was devoted to economic development, Nuri's long-range irrigation and dam-building projects made little immediate difference to the vast majority of Iraq's 6,500,000 people...
Died. Arthur Stassen, 49, director of the petroleum division of the Minnesota state tax department, who left his job as a milkman to take a position in the state government when his 31-year-old brother Harold Stassen, sometime Pullman conductor, became Governor in 1939; of a heart attack; in St. Paul...
...remote provinces, where wolves once roamed, 25,000 new settlers have arrived since June 1958 to practice what Frondizi preaches: "The fundamentals for national achievement are petroleum, coal, electricity, heavy chemicals. These mean liberty, democracy, self-determination and well-being...