Word: petroleum
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Dates: during 1960-1969
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Meeting in Paris last week, the 21-nation Organization for Economic Cooperation and Development pondered proclaiming an international oil emergency. The decision was no-at least for a while. But the Arab oil boycott is causing dislocations in petroleum supply that should be felt for a long time...
Rationing Coupons. Added shipping costs and dwindling petroleum supplies have already forced gasoline-price increases in Sweden, The Netherlands. West Germany, Belgium and Switzerland. Escaping price increases for the time being are France, which is getting oil from Algeria, and Italy, whose storage tanks still have a two-month supply of crude oil. Much the hardest hit is Britain, which ordinarily gets two-thirds of its oil from Arab sources. The British have started printing gasoline-rationing coupons as "a precautionary measure," last week gave oil companies the go ahead to raise petroleum prices. Meanwhile, oil companies have been chartering...
Some oilmen insisted that the week's events could permanently alter trading patterns in the world's oil markets. More likely, since Israeli planes and tanks had ended the battle so speedily, the petroleum business, like stocks, commodities and money, would gradually return to normalcy...
...order for an ad in the next day's paper), when the management of the attacked company is unready to hit back. "The first I heard of this raid was at my golf club," spluttered President Dwight M. Cochran of Kern County Land Co. after Occidental Petroleum's bitterly contested two-step offer last month to buy 23% of his asset-laden oil and farming firm. With such tactics, a group of Detroit financiers led by Donald H. Parsons, 36, has taken over five Michigan banks in the past year and forced American Metal Products into a merger...
...first-rate university, but it has come a long way since its founding in 1890. O.U. ranks among the top ten state schools in Rhodes scholars. Its 1,000,000-volume Bizzell Memorial Library houses the world's finest collection of materials on the history of science. Its petroleum-science program-backed by gifts from the state's oil industry-has produced one-fourth of the nation's geologists and petrochemical engineers. Although best known for its strength in science, O.U. has one of the nation's few campus-run schools of ballet; last year...