Word: conoco
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Dates: during 1990-1999
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...worried about a bleak pricing future, one reason they are merging. British Petroleum and Amoco recently united, hoping to save more than $2 billion annually, with a reduction of 6,000 workers. The new Exxon/Mobil combination is expected to save about $2.8 billion, with 9,000 jobs eliminated. Conoco, Texaco and Chevron are also expected to reduce staff...
...truth, storm chasing is arduous work that generally entails more common sense than courage and more physical discomfort than danger. Professional chasers often drive 15 hours a day for days at a time, subsisting on junk food and virtually no sleep. "We eat whatever Texaco, Conoco and Citgo are willing to serve up," laughs University of Oklahoma meteorologist Joshua Wurman. Nor do the hazards of the job always come from nature. Last year Wurman stopped during a chase to help extract a car from a ditch. "While I was pushing, the driver gunned his engine and I was covered...
...President included in his 1993 deficit-reduction plan. But pandering isn't inevitable: four years ago, Ross Perot and Paul Tsongas were calling for a new 50 cent-per-gal. tax to be phased in over a number of years. The Big Three automakers and oil giants Chevron and Conoco were onboard with the basic concept. Why? They had come around to the view held by every other advanced nation: cheap oil is costly to the environment, the economy and national security, and raising taxes to reduce consumption is a smart way to fund government...
Less than a month afterPresident Clinton blocked a $1 billion deal between Conoco Oil and Iran, the Royal Dutch-Shell Group is treading where U.S. companies now cannot. The Anglo-Dutch company acknowledged its negotiations today, but would not confirm reports that it sought the same lucrative contract that the Houston-based Conoco was forced to give up. SaysTIME business writer John Greenwald: "This shows that when you try to hurt Iran by barring American companies from doing business with it, foreign companies are only too willing to rush...
...Conoco executives might have recognized the Administration's concerns sooner if contacts between the company and Washington had been more high-level and open from the start. Conoco discussed the Iranian deal only with midrank diplomats at U.S. outposts in Dubai, Kuwait and London, as well as in Washington, repeatedly since 1991--including four times in the past 18 months. Nor did State policymakers ever say they flatly opposed the Iranian negotiations. Michael Stinson, who headed the Conoco project, told Congress last week that "the typical response was, 'The U.S. would prefer that you not do this deal...