Word: petroleum
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Dates: during 1960-1969
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...vast modernization and economy drive has turned the deficit-ridden tin mines ($16.2 million in 1962) into a moneymaker and taxpayer for the first time. With the increase in tin production, export sales have risen 30% in the past three years to $150,400,000. Barrientos has also doubled petroleum production, built scores of new schools, hospitals and clinics, and added 20,000 miles of new roads in the country's long-neglected interior...
...lovers of impressionism, there was a blurred U.S. combat film showing a Green Beret trooper slinging grenades into a peasant's hut in Viet Nam. For pop-art fans, there was a cartoon drawing of Donald Duck, Superman and Foxy Fox representing three American oil companies fighting for petroleum rights in an underdeveloped country. Lovers of camp art could watch a carefully edited Tarzan film that illustrated Johnny Weissmuller's "white supremacy" over African tribesmen. And for the surrealist school, there was a likeness of a Metro-Goldwyn-Mayer lion that slowly turned into a growling Lyndon Johnson...
...eventually be essential to feed the world's burgeoning population. As deposits of minerals, oil and gas are depleted, the virtually untapped resources lying on and beneath the ocean floor become increasingly attractive to industry. In 2,500,000 sq. mi. of offshore area, the U.S. alone has petroleum reserves estimated at 3.2 trillion...
...foreign subsidiaries. Only by such underwriting can many a subsidiary borrow abroad-as the Administration still allows-on reasonable terms. Some moviemakers, pointing out that 54% of industry revenues last year came from abroad, hoped for exemption from capital controls to enable them to continue filming overseas. And the petroleum industry demanded a ruling that money spent on oil-well drilling is a "current transaction" and thus automatically exempt (like temporary financing of exports) from the stern program...
...California as an office boy at 17 after graduating from high school in Fresno; he rose to be a director at 32 and senior vice president at 38. Though many oilmen had tagged him as a future president, Davies and Standard parted company after his wartime service as Deputy Petroleum Coordinator under the industry's old scourge, Interior Secretary Harold Ickes. Davies then founded American Independent Oil Co. (he has since sold his interest in it), later bought control of American President Lines and San Francisco's Natomas Co., which dredges for gold in the Peruvian Andes, owns...