Word: exxon
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Dates: during 1970-1979
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Switch on a home air conditioner, a factory pump or just about any electric device and the motor will burn roughly the same amount of current whether the machine is running fast or slow. This inefficiency and waste of energy by motors could soon be eliminated, according to Exxon Corp. Last week the world's largest oil company announced with much fanfare that it has developed a new electric energy technology that could save the U.S. the equivalent of 1 million...
...Exxon has produced a boxlike "alternating current synthesizer" that can be built into new machines or fitted easily to existing electric motors. It will control the speed of electric motors, which burn up about 60% of all electricity generated in the nation. The device uses microprocessor technology to enable an electrical current to be regulated and changed so that it varies from the fixed norm that is established by utilities; in the U.S. the norm is about 115 volts and 60 cycles. Put simply, this means that the speed of a conventional motor can be automatically varied according...
Many businessmen are already mired in time-consuming antitrust cases. The Justice Department is pressing monumental cases to break up IBM and AT&T, and the FTC is doing the same in a suit against Exxon and seven other oil companies. It is unlikely that the FTC suit will come to trial much before the 21st century, by which time the Government expects oil to play a diminishing role in the nation's economy...
...flare even more in the weeks ahead. Tight supplies have already forced nearly all oil companies to allocate deliveries to their retail outlets on a monthly basis, usually 90% or 95% of what the stations sold during the same month of 1978. Last week Texaco, Sun oil, Union and Exxon tightened their allocations still further, in the case of Exxon to 80% of the 1978 level. Thus, as summer progresses, drivers will find it increasingly difficult to buy gas toward the end of each month as service stations...
...Monsanto's Harvard connection, Hanley says, "A lot of people in both education and business are watching this project. Exxon, for example, is looking at it. They have some fledgling arrangements with M.I.T., and I gather that they want more. There isn't a month that goes by that some paper shuffler like me doesn't inquire, 'How're you coming along?' David Rockefeller was in my office a few weeks ago and asked if we could make the same kind of deal with Rockefeller University...