Word: petroleum
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Caltex is owned jointly by Texaco and Standard Oil of California. It operates a refinery in Cape Town, and markets petroleum products throughout the country. It also owns shares in two Southern Rhodesian marketing and refining companies. Caltex employs about 2000 workers in South Africa, about a third of them black. The average African wage in 1972 was $139 a month; the minimum...
...chairman of the Senate Finance Committee, said his committee "will not vote these big taxes" unless the receipts go not to consumers but for use in developing new sources of energy such as gas from coal. If the tax is passed without a rebate, consumer bills for fuel and petroleum-related products would be increased $12 billion annually...
...Chemical $12,227,949 Aluminum Co. of America $11,865,565 Union Carbide $11,068,724 U.S. Steel $10,915,154 Kimberly-Clark $10,676,454 International Nickel of Canada $10,502,593 Procter & Gamble $10,376,375 Continental Group $9,939,553 Smith, Kline $8,946,86 Phillips Petroleum $8,918,217 Standard Oil of Indiana $8,913,351 Dome Petroleum $8,635,656 Gulf $8,538,075 Pennzoil $8,280,000 Kingdom of Norway $8,072,510 Bristol-Myers $7,493,988 Johnson and Johnson $7,474,908 Texaco $7,463,485 Federated Department Stores...
These are dicey times for shipowners who play that gambler's game called tankers. As a result of the slowdown in the growth of petroleum consumption and some reckless overbuilding by shipyards in the early 1970s, the tanker business is in the worst depression in memory. Fully 10% of the world fleet sits idle for lack of cargo...
...drilling is the work of independent operators Their names-Houston Oil & Minerals Mesa Petroleum; Sanchez-O'Brien and Denver's Davis Oil are some of the "hot" outfits-are unknown to the public. But last year Davis, for example, discovered more onshore gas and oil wells in the U.S. than Exxon. Lately the big firms have begun to drill more too. So far this year Shell has sunk 59 wells in the U.S., compared with only...