Word: tankers
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Producer-Director Dick Powell wisely spends a minimum amount of time munching on this knackwurst, trains his cameras as much as possible on the stirring capers of F-86s banging about the sky. He would have been even smarter to hire some tanker planes and never bring the jets down...
...steadiest thing about the Middle East last week was the oil flow. Aside from a moderate jump in tanker charter rates and a flurry of ship sales which in three weeks boosted prices 10-20%, all was calm. Iraq's revolutionary government took pains to assure Western oilmen that it would honor all contracts, would not only maintain oil production but try to increase it. The British-French-American-owned Iraq Petroleum Co. welcomed this feeling of sweet reasonableness, but in common with oilmen everywhere took it with a pinch of salt...
...high surplus levels, big enough to handle any short-term emergency. France has enough oil on hand for ten weeks, Germany for twelve weeks, Great Britain for four weeks. The industry has developed greater flexibility as a result of the valuable lessons learned during the Suez incident. A tanker shortage no longer exists; some 437 vessels totaling 7,000,000 deadweight tons are laid up in Western shipyards ready to maintain a flow of oil to any beleaguered nation...
...reactivate the emergency supply system that functioned so well at the time of Suez. If it wanted to do so, the U.S. could probably increase its current production of 6,475,000 bbl. a day by at least 45%. One problem would be deploying the world's tanker fleets to best advantage as rapidly as possible. For this reason, long-depressed U.S. tanker rates rose 15% to 20% last week...
...Robert Ginsburgh, 63, retired Air Force brigadier general turned chief military reporter for U.S. News & World Report; in the crash of a KC-135 Strato-tanker near Massachusetts' Westover Air Force Base (see NATIONAL AFFAIRS...