Word: slaving
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Dates: during 1950-1959
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...Great Slave Lake area 540 miles north of Edmonton, where Canada's timberlands fade into bleak muskeg swamps stretching northward toward the pole, the signs of oil are as persistent as the mosquitoes. The first Canadian explorers found lakes covered with oil seeping from holes in the ground. Indians and traders skimmed it off for their cook fires, scooped up fistfuls of the rich black muck to waterproof their boots. But to commercial oilmen, the potential of the Great Slave oil has long been only a tantalizing dream. No one had much encouragement until this year. Then Phillips Petroleum...
Geological Whodunit. Behind all the excitement, which has sent Canadian oil stocks gushing up as much as 70% in recent months, is a geological thriller to rival any detective story. Back in 1921 Imperial Oil Ltd., Jersey Standard's Canadian subsidiary, tried to tap Great Slave's potential with a test well at Windy Point on the western tip of the huge lake far up in Canada's frozen Northwest Territories. The area was littered with natural oil seeps oozing from a rock strata identified as Devonian limestone. But as so often happens when oil-bearing strata...
Oilmen from coast to coast awoke to what Phillips and Home Oil had suspected: the entire area from Great Slave south to Lesser Slave Lake and west to the Rockies, some 100,000 sq. mi. in all, was probably underlain with a thick common bed of rich oil-bearing formations, forming a vast new oil domain, where a wildcatter could spend a lifetime drilling and not exhaust the chances of a new find. Said Phillips' divisional manager, D. L. Potter: "This opens up a virgin wilderness of vast potential...
Battle of the Giants. McMahon's stakes are likely to look like small potatoes compared to the fortunes the giants of the industry are preparing to bet on the entire vast area from Great Slave southward to Edmonton. Virtually all major companies, plus a host of independents, are deep in the search, have formed dozens of combines to help one another. Because Canada's provincial governments hold up to 90% of all mineral rights and in the West usually lease them in 100,000-acre blocks (price to Imperial recently: $1,700,000), even the biggest outfit often...
...unity." If the terror is over in Red China (as Western experts largely agree), it has been followed by a form of persuasion known as "reform through labor." Chou En-lai declared recently: "More than 80% of criminals detained have been given work in agriculture or industry," i.e., as slave labor...