Word: tankerous
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Dates: during 1950-1959
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Reminded that the last tanker captain to attempt to run the British blockade wound up in a British court at Aden (TIME, June 30), Jones snapped: "If I sent any tankers, you can be sure the same thing wouldn't happen ... If you mean that I will be sued by the British and Anglo-Iranian, I might, but I will not lose much sleep over that." Had the U.S. State Department approved his trip? Jones replied: "Well, they didn't disapprove...
Business Aplenty. There is plenty of need for the pipeline. Texas oil shipments to the West Coast now go by tanker through the Canal or by railroad. These carriers currently aren't carrying all the crude needed. Glasco estimates that California refineries could use 100,000 bbls. more a day. The line will also help the California oil industry. Since California wells can't keep up with consumption, oilmen are pumping their wells so hard that they are clogging the pores in the oil sands, thus endangering the future yield. By offering to ship the first barrels...
...properties in Iran. Sadika helped set up the National Iranian Development Corp., which was to sell Iran's nationalized oil abroad, and became its vice president. Late this spring an Italian operator took a shipment of Iranian oil (TIME, June 30). Sadika held her breath while the Italian tanker tried to get through to Naples, practically wept when the ship's owner capitulated to the British (who treat Iranian oil as contraband) and put in at Aden. Swallowing her tears, Sadika Garagozlou then & there decided to buck the British...
...added confidently: "I am sure we will be able to start shipping in a few weeks. I even have the promise of one American tanker...
...Dillon, Read & Co. and Glore, Forgan, have agreed to help raise 70% of the cost from big insurance lenders, the rest in equity capital. Ryan, who is planning to deliver gasoline from Beaumont to Newark for a cost of 29? per barrel v. an average of 38? by tanker, expects no trouble in lining up customers from the 50-odd U.S. oil companies with refineries in the Beaumont-Shreveport, La. area...