Word: petroleum
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Dates: during 1950-1959
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...British, French and U.S. oil companies are engaged in a hard-driving search for oil. As Mattei told it, the Libyan government had suddenly reneged on a tentative agreement to give him a 17,000-sq.-mi. concession in the Libyan desert, instead gave the concession to American Overseas Petroleum, a jointly owned subsidiary of Texas Co. and Standard Oil of California...
...private-enterprise development of petroleum has been vastly successful, but Brazil and Argentina have long since adopted the French-Italian pattern of state oil enterprises. Frankly trying to export the private-enterprise concept, Washington has long refused loans to public companies...
...Sodom and Gomorrah, though with benefit of modern geological research. "A pall of thin, grey haze hovered ominously over the valley and the smell of sulphur filled the air. There were places . . . where naphtha oozed from the ground, slimy and flammable. There was also asphalt (bitumen) for the gathering . . . Petroleum gases and light fumes of sulphur often hung on the air above the plain . . ." Through Canaan ran an enormous geological fault, and a shift in this, it is thought, touched off an internal explosion of petroleum gas which in turn sent tons of flaming asphalt, marl, salt and limestone high...
...counseling staff, who refers him to the plant's doctor, local clinics or rehabilitation groups. Most programs are voluntary, but a worker who refuses help leaves the.company little choice but to discipline him by short layoffs or eventually fire him. Says an executive of California's General Petroleum Co.: "We're inclined to treat alcoholism as an illness, but if a man won't help himself, we have to dismiss him." Many unions still hogtie such programs-by shielding alcoholics or creating a fuss when it becomes necessary to dismiss them, but more and more companies...
...president to succeed Clyde T. Foster, 64, who continues as chairman of the board and chief executive officer. The youngest president in Sohio history, Spahr graduated as a civil engineer from the University of Kansas in 1934 and from Harvard Business School in 1938. He worked briefly for Phillips Petroleum Co., joined Sohio in 1939 as a pipeline engineer before going to Burma in World War II as an Army Corps of Engineers major in charge of pipeline construction. Back at Sohio, he took a management job in transportation, became vice president for transportation in 1951. In 1952 he took...