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...FIND is expected to make Washington 30th oil-producing state in U.S. Sunshine Mining Co. has brought in state's first substantial well on Pacific Coast shore, near Hoquiam, reports high-grade oil pumping at rate of 400 bbl...

Author: /time Magazine | Title: Time Clock, Jul. 29, 1957 | 7/29/1957 | See Source »

BREWERY BATTLE for industry leadership between Milwaukee's Schlitz (1956 sales: 5,940,000 bbl.) and St. Louis' Anheuser-Busch (5,860,000 bbl.) will soon get hotter. To win back No. 1 spot, Anheuser-Busch will make its first big move into beer-thirsty Southeast by building a major Budweiser brewery (capacity: about 1,000,000 bbl.) on 400-acre site near Tampa...

Author: /time Magazine | Title: Time Clock, Jul. 29, 1957 | 7/29/1957 | See Source »

Taking Over. What Pemex took over upon expropriation was no booming industry. From its 1921 peak of 193 million bbl., production had sagged badly as salt water seeped into the major fields and fear of expropriation caused the curtailment of new exploration. In 1938 only 38.5 million bbl. came out of the ground. The jubilation that greeted President Lazaro Cardenas' expropriation decree was hardly borne out by the prospects. Technicians fled. Outraged foreign companies organized a boycott against exported Mexican oil, persuaded equipment suppliers to refuse sales to Pemex. Soon Mexico was buying oil abroad...

Author: /time Magazine | Title: MEXICO: Serving the Nation | 7/22/1957 | See Source »

...when business-minded Miguel Aleman became President of Mexico, named Antonio Bermudez, a wealthy whisky distiller, to head Pemex. Bermudez cracked down on graft and featherbedding, stepped up exploration. By 1951, production was twice that of 1938; last year the nation's wells produced 94.1 million bbl. Geologists and oil engineers, trained at the University of Mexico, directed a wildcatting program, using 146 drilling rigs, that brought in 18 new fields out of 84 tries...

Author: /time Magazine | Title: MEXICO: Serving the Nation | 7/22/1957 | See Source »

...month ago the biggest of Farben's successors, Farbenfabriken Bayer of Le-verkusen. announced one of its most am bitious projects. With Anglo-Iranian Oil Co.'s German subsidiary, Bayer will build a $60 million plant near Cologne to crack 2,100,000 bbl. of oil a year into basic chemicals for plastics and synthetic fabrics. This will vastly expand Bayer's production of 13,000 different chemicals, dyes, drugs, resins and photographic products (Agfa), which last year rang up $380 million in sales...

Author: /time Magazine | Title: BUSINESS ABROAD: The Heirs of I. G. Farben | 7/22/1957 | See Source »

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