Word: pumpings
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Since last year's Economic Report was designed mainly to head off massive antirecession pump-priming by the Government, the President took gentle pleasure in a sort of I-told-you-so: "The events of the last 18 months show again the considerable capacity of our economy to resist contractive influences and to hold a downturn within fairly narrow limits...
...naval personnel from Camp David, motor-pool mechanics and servicemen who guard the presidential helicopter. Assembling at the White House, each staffer received a print of a new Eisenhower oil painting titled Deserted Barn-a weathered red barn with a ragged hole in the roof and a rusty old pump and a small wagon standing in a weed-rank yard. The President, explained Press Secretary Hagerty, painted it from his own imagination and memory...
Despite the oil wells that pump some $800 million a year into Venezuela, the nation that elected Betancourt is in economic trouble. Dictator Pérez Jiménez splurged on grandiose public works schemes that ran the country $1.4 billion into short-term debt. Venezuela has paid one-third of the bills, must find a way to pay the rest. It must also make jobs for 100,000 now unemployed as well as new Venezuelans, now swelling the population of 6,000,000 at a fat 3% a year...
...with so much salt water that Starr Co. despaired of getting the oil out of the petroleum-bearing strata. Disgusted, Starr sold the well, equipment and 80 acres of surrounding lease to Turner for $2,500. Undiscouraged, Turner decided to try his own method. He thought an extremely powerful pump might draw down the water level so fast that the oil locked up in the rock would flow into the bore, where it could be pumped up. Using a tractor for power, Turner soon had the well producing as much oil in a day as the Starr Co. pump...
...establish the field's boundaries. In one solid gesture of confidence in the future, the Ashland Oil & Refining Co., purchaser of the bulk of the field's output, already has invested $200,000 in gathering lines, last week took bids on a $2,000,000 pipeline to pump oil directly to its refinery in Louisville, 70 miles away...