Word: caltex
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Dates: during 2000-2009
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...lingers over a Marlboro and a 1 a.m. cup of coffee outside his favorite Caltex station, Anand Supapdee ponders the future of his white pickup truck and concludes its days are numbered. "It's the ghosts," says 47-year-old Anand. "We have to change our cars every few years when they get haunted." Before he can explain, a static-coated voice issues from his handheld shortwave radio. Several kilometers away on a rain-slicked stretch of Bangkok's Boromratchanee Road, a black Toyota sedan has plowed into the back of a truck carrying sacks of cement. Anand...
...trucker will "probably be arrested." But as Anand and Jitchana wander back to their pickup an hour-and-a-half later, he is neither cuffed nor in custody in the back of a police car. "That's for them to decide," shrugs Anand. He drives back to the Caltex station to wait for the next call, realizing his truck may now be haunted by a new ghost...
...shire president and trained nurse greets many of them by name. In mid-afternoon light, the figures seem to materialize and dissolve from the mirage that looms on the lake's horizon. Further around, Finlayson says g'day to the town policeman and the owners of the Caltex roadhouse. But her biggest, bounciest bush greeting is reserved for herself: "That's me," she says. "See the boobs...
...Money still gets pumped into oil and gas?Indonesia's largest export industry?but there are considerable operational risks. In August, Caltex Pacific Indonesia, a subsidiary of ChevronTexaco, was forced to turn over management of an oil field in Sumatra to a joint venture between a local government and Pertamina, the country's big domestic producer. Caltex ran the field for 30 years, but when its production contract expired, the company was unable to get a standard extension. Under Suharto, Jakarta controlled the country's natural resource industries. But now, power is devolving to the provinces and local politicians want...
...domestic court despite the fact that the operation was solvent and profitable. The inexplicable decision, made because Manulife didn't pay a dividend to shareholders in 1999, was later overturned, but not before the case received international publicity. Partly due to the experiences of companies like Manulife and Caltex, investment in some key sectors has effectively dried up. In mining, an important source of exports, many smaller foreign companies have fled and new exploration has practically ceased due to confusion over the laws governing the industry and uncontrolled illegal mining...