Word: petroleum
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Dates: during 1960-1969
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Lacking water power, coal or petroleum, Cuba runs on imported oil. For many years, the oil has flowed from Shell, Jersey Standard or Texaco wells in Venezuela, traveled in Shell, Jersey Standard or Texaco tankers to Cuba, been refined at Shell, Jersey Standard or Texaco refineries at Santiago or Havana. It was paid for with dollars earned by selling sugar...
...more electric locomotives than any factory in the world, undertook to build machines, tools, heavy electrical equipment. Poland began specializing in coal mining and transport equipment. East Germany set out to concentrate on chemicals, building materials, precision machinery. Hungary was told to concentrate on aluminum processing. Rumania on petroleum production, and Bulgaria, on the sunny Black Sea coast, undertook to become a kind of fourth-class Florida of orchards, vineyards, and resorts for exhausted heroes of Soviet labor...
...Russia calling for $100 million in Soviet aid, has sold a million long tons of sugar to Russia, 130,000 to Communist China, 60,000 tons to East Germany and 150,000 tons to Poland. He ordered Esso, Texaco and Shell to start processing 900,000 tons of Soviet petroleum arriving regularly aboard Russian tankers. The oil companies, whom Cuba owes $60 million for previous shipments from Venezuela, refused, and Castro threatened last week to nationalize them...
...students made it clear at a press conference that their brains had not been washed. They still had the questions (and preconceptions) they arrived with, and said they had got no satisfactory answers. Sample: "Why does the U.S. not grant credits for fundamental government-owned industries like petroleum? Why has not the U.S. come anywhere near fulfilling our basic necessities...
...young executives of 27 nationalities working around the world, frequently cross-posts them (a Filipino to Lebanon, a Moroccan to Indonesia). To help its Middle East salesmen describe their products, it hired Lebanese Poet George Silisty to devise a dictionary of new Arabic terms to suit the modern petroleum industry...