Oral History Interview with Stephen E. Van Nostrand, April 20, 1987 Page: 29
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29
Marcello:
Van Nostrand:most part.
Once SCAP changed their directive and permitted the
resumption of the refining industry, then we changed our
concept. We went to partnerships with Japanese prewar
companies. Together, we rehabilitated the plants with
over-sight by Japanese and Caltex engineers and got the
thing back on its feet in its present form. Those few
service stations we had reverted to Japanese ownership by
our marketing company.
I would assume that service station sites in Japan had to
be incredibly expensive.
They are now, of course. When you look back and think of
the fact that Japan's gross national product five years after
the surrender of Japan had grown back to its prewar level,
this was a fantastic recovery. It was done by just terribly
hard work on the part of the Japanese.
But they created this tremendous demand for petroleum.
The petroleum economy just went crazy. I guess, from the
time I got there in 1960, when our group refining capacity
was about 68,000 barrels a day, to when I left, it was close
to 900,000 barrels a day.
But Caltex, for the most part, to be quite honest, was
riding the proverbial tiger. It was all we could do to exert
maximum effort to keep up with what was going on in Japan--
to try to assemble the financial resources and the facilities
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Marcello, Ronald E. & Van Nostrand, Stephen E. Oral History Interview with Stephen E. Van Nostrand, April 20, 1987, book, April 20, 1987; Denton, Texas. (https://texashistory.unt.edu/ark:/67531/metadc306889/m1/31/?q=%22~1%22~1&rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Oral History Program.