Word: petroleum
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Dates: during 1940-1949
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Jacob Blaustein, 56, a multimillionaire who lives at Pikesville, Md. Blaustein built a fortune in Texas and Pan American oil, is now president of the American Trading & Production Corp. A friend of Franklin Roosevelt, he made surveys of D.P.s in Germany, was vice-chairman of the Petroleum Administration for War Marketing Committee. He is now president...
George Killion, onetime editor of the Sacramento Bee, later a legislative consultant for Safeway Stores. Killion went to Washington as assistant to the Petroleum Administrator for War, became Pauley's assistant during the 1944 campaign, later succeeded him as Democratic treasurer. In 1947, the Maritime Commission made him president of the Government-owned American President Lines at $25,000 a year...
...passengers witnessed the dedication of two plants, developed by the Bureau of Mines at a cost of $15 million, to convert coal into oil. This was the biggest step the U.S. had yet taken to create a synthetic oil industry against the possibility of war or of exhaustion of petroleum reserves...
Quick Pickup. In high dudgeon, the American Automobile Association last week asked major U.S. oil companies why, with oil in surplus, had the price of gasoline gone up just as motorists were getting ready for summer driving? While other oil companies mulled over an answer, Mid-Continent Petroleum Corp. cut prices if a gallon in Kansas City, the first sizable cut in gasoline prices since...
Reason for suspension was that Colombia had just about succeeded in pricing itself out of the oil business. While Venezuela's tough but sense-making petroleum code fostered a billion-dollar industry, Colombia's confusing, ultra-nationalist oil laws had crippled efforts to develop resources. It often took ten years to get an exploration concession through Colombian courts. After that, the million dollars spent on drilling a new well would be subject to tax whether oil was found or not. Extra-legal riders of one sort or another jacked royalties as high as 25%; the total government take...