Shared Flashcard Set

Details

ENGT- Final
ch.20-Peoples
32
Business
Undergraduate 2
11/30/2011

Additional Business Flashcards

 


 

Cards

Term
Everette Lee DeGolyer
Definition
“no man more singularly embodied the American oil industry and its far-flung development in the first half of the twentieth century than DeGolyer.”
Term
Everette Lee DeGolyer
Definition
most eminent geologist of his day
Term
Everette Lee DeGolyer
Definition
entrepreneur, innovator, scholar
Term
Everette Lee DeGolyer
Definition
born in sod hut in Kansas
Term
Everette Lee DeGolyer
Definition
Studied geology at OU to avoid taking Latin
Term
Everette Lee DeGolyer
Definition
Discovered (1910) Portrero del Llano 4 well (Mexico)
Term
Everette Lee DeGolyer
Definition
More responsible than any other person for the introduction of geophysics into oil exploration
• Pioneered the development of the seismograph
• Championed seismographs use
• Said to be “crazy with dynamite”
Term
Everette Lee DeGolyer
Definition
Put together Amerada on behalf of the Cowdray interest
Term
Everette Lee DeGolyer
Definition
With the help of Standard of NJ, her created DeGolyer and McNaughton, which became the world’s leading petroleum engineering consulting firm.
• “this too was an innovation, for it met the new need for independent appraisal of the value of petroleum reserves to serve as a basis for financing by banks and other investors”
Term
Everette Lee DeGolyer
Definition
Founder of Texas Instruments
Term
Everette Lee DeGolyer
Definition
Bailed out Saturday Review of Literature and became its chairman
Term
Everette Lee DeGolyer
Definition
Called to help Ickles during WWII in the Petroleum Administration of War
Help organize and rationalize production throughout the U.S.
SPECIAL FOREIGN MISSION: appraise oil potential in Saudi Arabia and other countries of the Persian Gulf
Term
Everette Lee DeGolyer
Definition
Mastered the art of eating sheep’s eyes when they were ceremoniously given to him
Term
Everette Lee DeGolyer
Definition
After his foreign mission, he returned and states that Iran, Iraq, Saudi Arabia, Kuwait, Bahrain, and Quatar amounted to about 25 billion barrels of oil—of that Saudi Arabia accounted for 20% (5 billion barrels)—in reality he actually estimated closer to 300 billion total barrels with 100 billion in Saudi Arabia
Term
Everette Lee DeGolyer
Definition
“the oil in this region is the greatest single prize in all of history”—375
Term
JAMES TERRY DUCE
Definition
VP of Casoc (California-Arabian Standard Oil Company)
Term
JAMES TERRY DUCE
Definition
Wrote to DeGolyer saying that no such fields had ever been seen like those in the Middle East—365
Term
IBN SAUD
Definition
Realized that the impeding war would hurt the area’s economy (Saudi Arabia? Not sure)
Term
IBN SAUD
Definition
“The Arabs have the religion, but the Allies have the money”
Term
IBN SAUD
Definition
looked toward the British for help as well as Casoc and its two American Parents: Standard of California and Texaco
Term
Herbert Feis
Definition
Even private-enterprise republicans realized the need foreign oil concessions. “the pencil came to an awed pause at one point and place—the middle east”
Term
IBN SAUD
Definition
came to Egypt to meet the Americans on the USS Murphy
Term
Roosevelt
Definition
met with Ibn Saud to discuss the oil situation in the Middle East:
Roosevelt’s interests were a Jewish homeland in Palestine, oil, and the postwar configuration of the Middle East.
Ibn Saud wanted to assure continuing American interest in Saudi Arabia after the war to counter balance the British influence in the region.
Term
Ibn Saud
Definition
declared that he and Roosevelt were twins
Term
Ickles resigns
Definition
Truman appointed Edwin Pauley (CA oil man) as the Undersecretary of the Navy
Term
Ickles nickname
Definition
The Old Curmudgeon
Term
Navy Secretary James Forrestal
Definition
Former investment banker form Dillon, Read
Term
James Forrestal
Definition
One of the first senior policymakers to conclude that the U.S. had to organize itself for a protracted confrontation with the Soviet Union
Term
James Forrestal
Definition
Supported U.S. expansion in Middle East to secure the postwar world
Term
James Forrestal
Definition
Agreement still had no political support and was not passed
Term
J. Edgar Pew
Definition
VP of Sun Oil
Term
Harry Truman
Definition
April 12, 1945, FDR dies,and he succeeded him
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