Word: oil
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Dates: during 1950-1959
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Into the town of Comodoro Rivadavia on the windswept Patagonian coast flew President Arturo Frondizi last week to celebrate the 52nd anniversary of the day an Alsatian engineer, drilling for water, brought in the country's first paying oil well. What Frondizi saw, touring by open car, was a brash and bustling boom town (pop. 23,000) where the sprawling trailer camps are guyed by wire against the 75m.p.h. gales, where tricky tides buffet the three to four ships putting in daily at the busy port, where U.S., British, Dutch and Italian oilmen elbow up in nightclubs to watch...
...recommendation fromOregon's Senator Wayne Morse, visiting in Buenos Aires, that the U.S. aid state oil monopolies, such as Argentina...
There was more unanimity on the N.A.M.'s contention that labor featherbedding threatens the U.S.'s competitive position in world trade. "It is a plain economic fact," said Sinclair Oil Vice President Millard E. Stone, "that the country can no longer afford to let management be handcuffed by archaic work rules which prevent maximum efficiency, nor by the kind of uneconomic wage increases which subject the public to further inflationary pressures. Our continued failure to recognize the impact of labor costs on our competitive standing has brought us to the point where we stand to lose our domestic...
...MILLION DOWNTOWN center is planned in Houston. Named after the late oil tycoon Hugh Roy Cullen, the twelve-acre center will be privately financed, have a 500-room hotel and three office buildings with a total of 1,650,000 sq. ft. of office space, all connected by air-conditioned pedestrian malls at second-story level...
AFRICAN WILDCATTING will be started by Gulf Oil. Gulf has made deal with the Spanish government to spend $7,750,000 seeking oil in Spanish Guinea in the next six years...