Word: petroleum
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Dates: during 1960-1969
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...drive toward economic integration, the Common Market has performed even more spectacularly. Trade among the Six has increased 45% in three years, this year is averaging $1 billion per month. As a result, the Six have reduced tariffs among themselves by 30% on almost every commodity except agriculture and petroleum products, are speeding up their timetable for more cuts. What was initially to be a twelve-year transition to an integrated economy is now scheduled to take place in eight years or less...
...truck trailers. Agfa and France's Vedette are collaborating on cameras. Eurista is a new FrenchGerman coalition making electrical resistors. Gasoline is now distributed in France and Germany by Desmarais. The Société Française PIC and Krupp recently signed an agreement to build a petroleum plant. "Within a few more years," says a West German industrialist wonderingly, "no government will be able to pull out of the Community. The businessmen won't let them." This is precisely what Jean Monnet is counting
...streamline E.N.I.'s petroleum distribution system, Mattei is building a pipeline from Genoa to Switzerland and on beyond into West Germany. He also plans a line from Venice to Wiener Neustadt in Austria, only 40 miles from the terminus of a projected Soviet line. Rumors-which Mattei neither confirms nor denies -have it that he plans to link his system directly to the Soviets...
...supporter of Italy's governing Christian Democrats, Mattei might be expected to be leery of a Moscow partnership, but he justifies it on simple economic grounds. "In the past eleven months," says he, "we have spent $100 million for Soviet petroleum. If we had bought the same quantity of oil from Western companies, it would have cost $140 million...
...Controlled by five western oil companies: British Petroleum (23.75%), Royal Dutch Shell (23.75%), France's C.F.P. (23.75%), Standard Oil of New Jersey (11.875%) and Socony Mobil...