1950 - Energy

Energy

U.S. anthracite coal production falls to 46 million tons, down from a peak of 100 million in 1917, with 35 percent coming from surface facilities or reprocessing of culm deposits. The fatality rate among coal miners drops to 1.86 per million tons, down from 6.5 in 1931 (see Knox Coal Co. disaster, 1959).

Phillips Petroleum cofounder Frank Phillips dies at Atlantic City, N.J., August 23 at age 76.

Arabian-American Oil Co. (Aramco) agrees December 26 to share its profits on a 50-50 basis with Saudi Arabia, setting a pattern for agreements with other Mideast oil-producing nations (see 1938; 1973).