Word: exxon
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Dates: during 1970-1979
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Such tactics have caused oil executives to mutter about drawing up a blacklist of their own, perhaps to refuse to deal in the spot market with OPEC countries that will not honor their legally binding contracts. Said Clifton Garvin Jr., chairman of Exxon: "It is our belief that we should not buy oil at present high spot market prices." Others do not seem so confident. Last week Royal Dutch/Shell, a major customer of Iranian crude before the ouster of the Shah, was back in the loading queue for a new supertanker cargo at an undisclosed price...
Each major oil company charges almost exactly the same wholesale price to all its franchised dealers. Exxon's price to its dealers throughout the U.S. varies by as little as tenths of a cent a gallon for the same grade of gas. But the wholesale price can differ drastically from company to company. In Houston, for example, Exxon sells unleaded gasoline to its service stations for 56.9? per gal. and Phillips for 65.1?, while Shell charges 61.8? for its premium unleaded. The oil companies have no control over the price at the pump. That is set by the individual...
Last week two more oil majors, following the lead of Exxon and Texaco, announced that they were gloomy enough over the continuing world oil shortfall to begin rationing fuel to big customers. Phillips Petroleum and Shell, the nation's largest gasoline seller, have either cut refinery output or reduced dealers' delivery allocations; the cuts range from Shell's maximum of 8% to Phillips' much more drastic 30%. And the reductions could get worse. "After the second quarter, it's anybody's guess what will happen," says an Exxon spokesman...
...pinch is already being felt. Exxon and Texaco notified customers that they are reducing deliveries of oil, gasoline and various refined products by as much as 10%. Other oil companies are expected to follow. The companies are also increasing their oil prices by up to 200 per bbl. Shortages of jet fuel have forced American, TWA and other airlines to juggle supplies to keep operating, and last week National reported that fuel shortages forced cancellation of its lightly traveled New York-Amsterdam flights. At the same time a sudden and unexpected lack of bunker fuel delayed ships sailing from some...
...updated model of the wood-burning stove or to futuristic solar heating systems. It is helping families in one of th Unites States's poorest regions to buy alternative sources of home energy with low-interest loans payable over decades. Doesn't sound like something your local Exxon or Con Ed would do, does...