Oil & Gas: A New Kind of Gusher

OIL & GAS

Any young man who signs up for a job with an oil company nowadays may find himself involved in the business of making toothbrushes, running a motel, selling houses or dredging for diamonds. Oil companies got their start by striking oil, but they are now striking out into a wide-ranging diversification program that often takes them far from the oilfields. Says Vice President S. G. Walters of Socony-Mobil's Mobil Centers division: "We'll find money to in vest in any proposal that shows promise of a substantial return."

The big oil companies,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!