Word: petroleum
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Dates: during 1950-1959
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...Leal in the club's biennial election. To oppose him, they picked General Alcides Gonçalves Etchegoyen, 51, bull-necked chief of Rio's armored division. In a scorching campaign, Estillac Leal denounced his opponents as men who were plotting to give away Brazil's petroleum and mineral riches. Etchegoyen promised to "rid the club of totalitarian influences from left & right." On the appointed day last week, with most of the club's 16,003 members voting, Etchegoyen won a smashing 2-to-1 victory...
...Force announced a drastic cut in training flights affecting 12,000 pilots. (The strikers specifically exempted plants producing oil and gasoline for Korea.) The Government ordered civilian airlines to cut consumption of aviation gasoline by 30% this week, banned its use for pleasure-flying entirely, and shut off most petroleum exports. Bus service in Chicago was cut by 10%. This week, while Washington still hoped that the threat of even more serious cutbacks could be avoided by a speedy settlement, gasoline stations in the Midwest began posting "Sold Out" signs...
April 28), is not worried by the fact that not even his own chemical engineers know what new products may come from hydrogenation. They had the same problem when they produced chemicals from petroleum gases which had no known use, but which now sell in quantities totaling more than 2 billion Ibs. a year, and go into everything from an antifreeze (ethylene glycol) to cigarettes, aspirin, and synthetic Vitamin Blt More than a third of Carbide's earnings ($104 million in 1951) comes from products and processes that did not even exist in 1939. Among them: the process...
...Chile, Switzerland) and source of 80% of Bolivia's foreign exchange, is the revolution's No. 1 question. Paz ran in 1951 on a nationalization platform. His backer, Juan Lechin, Marxist mine labor leader who now holds the new office of Minister of Mine: and Petroleum, is on record that "the workers must equip themselves to run the mine: effectively without the assistance of the owners." Paz almost certainly still intends to nationalize the mines, but he apparently means to go slow. For one thing, recognition from Washington may depend on moderation. One rumor circulating...
Since 1933, Ultramar Petroleum, a joint subsidiary of Socony-Vacuum and the Texas Co., has been refining crude oil shipped into Argentina from Colombia and the Gulf of Mexico area, and marketing the finished products through 1,500 affiliated outlets. But when Juan Peron, who has never encouraged foreign investments in Argentina, refused to let Ultramar take out its profits in dollars, it had no incentive to improve the property. The refinery (Argentina has only 17 others) became obsolescent, and millions of dollars were needed to modernize...