Word: subsoiling
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...stately homes of England, how beautiful they stand," wrote a igth-Cen-tury poetess. But 20th-century wars and taxes make for shifty subsoil. Last week from England came news of two of the stateliest homes rocking badly on their economic foundations...
...ancient city of Abydos, the great Temple of Seti I, finished in the reign of Rameses II (1324-1258 B.C.), is settling into the soft subsoil while cracks in its walls grow dangerously wider. On the Island of Philae, close to the Aswan dam and artificial lake, the Kiosk of Trajan (1st Century B.C.), in recent years so submerged that often only its upper half could be seen, has collapsed completely. On the same island, the Temple of Isis is in such danger that Egyptians have planned to move it to a safer spot...
...acres of land to the peasants. With the backing of labor and the Indian peasantry, which still worship him, he built up the first socialist state in the Western world. Stubborn as a burro, Cárdenas fought for Mexico's sovereign right to control its own subsoil treasures of ore and oil. He nearly broke Mexico doing it. When he bequeathed his errors and accomplishments to Avila Camacho, it was as if a volcano had subsided...
...Government. For, while $24,000,000 is almost three times as much as Expropriator Lázaro Cárdenas liked to pretend their properties were worth, it is only about one-eighth of what the companies themselves think they were worth, and it apparently puts no value on subsoil rights−the oil reserves under the ground to which the oil companies had title. This is the very principle the companies have fought so hard to maintain abroad, since without it the initial expense of exploiting new oil properties is a gamble on the indulgence of foreign governments...
...this deal with cold horror. It is true that much of their cash investment in Mexico has long since been paid off in oil, or written off as a bad debt. But the real value of the properties lies in oil beneath the ground. With Mexico denying their "subsoil rights" (or canceling them with a token payment), they shudder to think what might happen in other countries. In Venezuela, Colombia, elsewhere in & outside the Hemisphere, oil companies have investments that make their Mexican properties look like peanuts...