Word: petroleum
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Dates: during 1960-1969
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...Enough. During his first year, Sánchez maintained the principal lines of Munoz's development program. He scored a far-reaching triumph in concluding an agreement with Washington and Phillips Petroleum for construction of a major petrochemical complex that will export petroleum and petroleum-based products (TIME, Jan. 7). Economic growth has been held at nearly 10% a year, one of the highest rates in the world. Politically, Sánchez chose innovation. He elevated dozens of young, energetic officials to high posts. For the first time, the legislature was called into three special sessions. At his behest...
Rhodesia has been equally ineffective in keeping oil from its black northern neighbor, Zambia, which until December had been totally dependent on Rhodesian Railways to haul its petroleum supplies from Mozambique ports...
...entire Japanese economy is at stake in such far-flung horse trades. Despite its industrial strength, Japan is virtually barren of natural resources, depends on imports for 99% of its petroleum, 96% of its iron ore, 85% of its copper and 75% of its zinc. Last year the island nation imported 205 million tons of raw materials, 20% more than in 1964, at a cost of $3.2 billion...
...confidence, perhaps, is justified. For if the New Boston has learned anything, it is not to rely on the past which has left it so out of touch with the present. It has accepted automation, for instance. (Boston's four largest import commodities, petroleum products, sugar, gypsum, and salt are now completely handled by automated machinery. The New Boston, in addition, has begun to learn from other cities. Old South Station and the New Haven yards are to be torn down to make way for a Trade and Transportation Center which features accommodations and showrooms for visiting businessmen, very similar...
Rhodesian Prime Minister Ian Smith is not now preparing to renounce his UDI government and admit defeat. All mutual trade has been cancelled by Britain, and Rhodesia will be crippled by the embargo on petroleum when her ten weeks' supply runs out. But the consensus of the white populace is not yet for submission. Rumore of growing opposition to the Smith regime and of the formation of shadow cabinets are exaggerated. The Minister of Law and Order has received extra-constitutional powers from Smith to hold anyone suspected of such treason in prison indefinitely without trial. And the Rhodesian government...