Word: exxon
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...primary issue in the campaign was a proposal by Exxon to develop the oil deposits in western Colorado and the Rocky Mountains, where more oil is locked up than in the Middle East, Kelley explains...
...barons fretted about falling prices last week, they suffered new pain from an old wound. The U.S. Supreme Court refused to hear an appeal of a lower- court decision requiring Exxon, the largest U.S. oil company, to make a $2.1 billion refund for overcharges to customers. Since it would be impossible to track down all the wronged customers, the money will be given to state governments for such projects as insulating public buildings and helping the poor with utility bills...
...Energy Department started the complex dispute by charging Exxon with violating crude-oil price controls that were in force between 1973 and 1981. In asking the Supreme Court to turn down the case, the department claimed that because the law has expired, the issue did not have enough continuing importance to be taken up by the highest court. The Justices apparently agreed. Exxon Chairman Clifton C. Garvin Jr., who contended that the price- control law was an inequitable hodgepodge, pronounced the company "extremely disappointed" with the ruling. Even so, Wall Street investors think the payment will be only a minor...
...companies. Last week Unocal posted a loss of $134.7 million for the fourth quarter of 1985. The company was hurt last year by the cost of fighting off Corporate Raider T. Boone Pickens and by its money-losing oil-shale plant in Colorado. While several big oil companies, including Exxon, Chevron and Mobil, showed earnings gains in the past quarter, most petroleum experts see a lean future. Says Constantine Fliakos, who follows the industry for Merrill Lynch: "The last good news in the oil patch was the fourth-quarter results. We'll have to wait quite a while to hear...
...ethical profiles of the 20 companies, which include Merril Lynch, Paine Webber and Exxon, were compiliedfrom information the companies provided and fromother sources, including the liberal Mother Jonesmagazine and consumer protection mogul RalphNader...