Word: petroleum
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Dates: during 1950-1959
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...commission itself had held in 1951 that it had no authority to regulate the price of gas at the wellhead. Now the FPC must exercise a power it does not want. Nevertheless, the commission, under Chairman Jerome Kuykendall, plans to reopen rate hearings immediately for the Phillips Petroleum Co., the big independent producer that carried the gas case to the Supreme Court, and try to set a rate pattern for other independents...
DeLong, which has been working on the 5,000,000-lb. barge with McDermott for the past year, is building a second unit capable of operating in 100 ft. of water, will lease it to Magnolia Petroleum Co. Barge No. 2 will be a deluxe model, with air-conditioned living quarters for a crew...
Prescription. In St. Paul, state officials warned local citizens against the "tree surgeon" who charged fat fees for treating "sick"' trees with a mixture of aspirin and petroleum jelly...
...tightwire between his own country's rampant nationalism and the reluctance of foreign companies to come in without safeguards for their investments. He revised the investment law so that it put no limit on the percentage of profits that can be taken out of the country by petroleum investors. To appease his countrymen, Perón's deal with Atlas-Dresser provides that the U.S. companies explore and produce crude oil, after which Argentina will take over the refining and distribution. Dresser will supply the oil-drilling rigs, and Atlas the management and most of the capital. They...
NATURAL-GAS CONTROL by the Government will become broader under a U.S. Supreme Court ruling. The Court this week ruled (5 to 3) that the FPC has the authority to regulate prices of natural gas produced, gathered and sold by the Phillips Petroleum Co. to interstate pipeline companies. The decision upset the FPC's own ruling (TIME, Dec. 14) that, since Phillips was an "independent" producer, i.e., not affiliated with the pipeline companies, it did not come under the Natural...