Word: petroleum
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Dates: during 1950-1959
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...members of a visiting Soviet trade mission, beaming with uncommon good will. After two months of dickering, they had signed a treaty with the Argentines under which the two countries will work out a barter exchange of Argentina's agricultural products (mainly linseed oil and hides) for Soviet petroleum, coal, iron, steel, precision instruments, pipe, rails, rolling stock, axles and tires. Goods worth $150 million are supposed to change hands-if both sides deliver. In addition, the Communists agreed to extend a $30 million credit for mining, oil drilling, railroad, agricultural and generating equipment...
Coal has another basic problem. The industry is mostly made up of companies too small to afford the sort of technological research that enables other industries to cut their costs. Last year, for example, the petroleum industry spent ten times as much for research as the coal industry. In fact, much of the effort to find new uses for coal has come from outsiders. The chemical industry pioneered the extracting of chemicals from coal through hydrogenation (TIME, May 12, 1952); the utility industry worked out methods of getting more heat energy out of a given amount of coal...
Thirsty Industries. The source of the trouble, the report says, is that while the population of Texas has grown only 20% since 1940, the use of water has increased 150% because of the expansion of petroleum, chemical and other industries, and the increase in irrigated land. At the present rate of growth, the supply of water will have to be increased from one to five times in various parts of the state. If the supply is not increased, the water shortage will stop the growth...
...rugged schedule of protocol visits and wreath-layings, he managed to meet and listen attentively to scores of political and business leaders. In Venezuela, where everybody from President Marcos Perez Jimenez down told him that they hoped Congress would not cripple their $2.5 billion oil industry by restricting petroleum imports, he also managed to get away for a jeepback tour of the vast eastern ore fields from which Bethlehem and U.S. Steel hope some day to draw much of the U.S.'s iron-ore supply...
Amino Blend. Chemistic food, says Rosin, is only a matter of time and effort. Margarine (chemically hardened vegetable oil) is already partly synthetic. It will be simple for chemists to manufacture food fats out of synthetic glycerin and paraffins from petroleum. Starch will be more difficult because plants produce it cheaply, but Rosin is confident that synthetic starch can be made out of carbon monoxide acted upon by sunlight...