Skip to Main Content
Book Chapter

The 1950s—A Burgeoning Era of Geophysics

By
Published:
January 01, 2001

Abstract

Of all the decades during the past half-century, the 1950s may have been the closest to providing a steady-state condition for the pursuit of geophysics. Economic conditions stabilized throughout the world. The European Economic Community was formed in 1957. Japan aggressively rebuilt its domestic economy. The Soviet Union underwent a period of de-Stalinization. The United States, under the benign leadership of General Dwight Eisenhower as president, had an average inflation rate of about one percent per year between 1953 and 1960. Crude oil, whose price had jumped from $1.81 a barrel in 1947 to $2.76 a barrel later that year once price controls came off, was priced at $3.11 a barrel in 1954, a charge that stayed roughly the same for the remainder of the decade. At this price level, the United States had enough surplus oil-producing capacity to fill Europe’s basic needs during a boycott by Middle East producers in 1956–1957, following attacks by Great Britain, France, and Israel on Egypt in October 1956. As for the geophysical industry, it opened the decade doing about $200 million a year in business and built up to an all-time global peak (non-Communist block) of 1040 seismograph crews working throughout the world during 1952.

But the geophysical highlight of the decade was the International Geophysical Year (1957–1958), mankind’s most comprehensive international scientific undertaking, which featured the Soviet Union launching the first two space satellites, Sputniks I and II, in the latter part of 1957. Despite the good feelings rampant within the international

You do not currently have access to this article.
Don't already have an account? Register

Figures & Tables

Contents

Society of Exploration Geophysicists Geophysical References Series

Geophysics in the Affairs of Mankind: A Personalized History of Exploration Geophysics

L. C. (Lee) Lawyer
L. C. (Lee) Lawyer
Past President of the Society of Exploration Geophysicists
Search for other works by this author on:
Charles C. Bates
Charles C. Bates
Honorary Member, Society of Exploration Geophysicists
Search for other works by this author on:
Robert B. Rice
Robert B. Rice
Past President and Honorary Member of the Society of Exploration Geophysicists
Search for other works by this author on:
Society of Exploration Geophysicists
Volume
10
ISBN electronic:
9781560801788
Publication date:
January 01, 2001

GeoRef

References

Related

A comprehensive resource of eBooks for researchers in the Earth Sciences

This Feature Is Available To Subscribers Only

Sign In or Create an Account

This PDF is available to Subscribers Only

View Article Abstract & Purchase Options

For full access to this pdf, sign in to an existing account, or purchase an annual subscription.

Subscribe Now