Word: exxon
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...jubilant that Exxon shut down the Colony Shale Oil Project in Parachute, Colo. [May 17]. I will not miss the high prices for food and housing, the escalating crime, or the loss of our quiet way of life. Because of Exxon's synfuel program, our fields, orchards and beautiful mountains were being forfeited to accommodate the influx of people...
Many of the island nations in the region also have deep financial woes. Jamaica's G.D.P. fell every year from 1973 to 1980. The country had a trade gap of $237 million in 1980, even though major U.S. companies like Alcoa, Exxon...
...except the company's top executives knew that the bust was coming. Most of the stunned employees at Colony first heard the news on radio or TV. In Battlement Mesa, a half-finished company town built by Exxon, a few furious workers immediately went on a rampage. They overturned garbage cans, tore down company-owned fence and fired shotguns through the windows of their company-owned trailer homes. In the town of Parachute, 15 miles from the Colony site, men piled into O'Leary's Pub and the Old Bank Saloon, where they drank, pounded...
...Exxon had envisioned Battlement Mesa, which housed 1,800, as a bustling city for 25,000. Some 65 homes and apartments have been completed, and more than 250 are under construction. Two schools, a recreation complex, a golf course, a supermarket and a shopping center are also unfinished. Though Exxon has not yet decided what to do about Battlement Mesa, the townspeople fear that most of the buildings will never be completed. Said Ray Guerrie, president of the town's First National Bank: "I just hope we can weather this crisis." Last week his tiny bank was packed with...
Despite last week's shock, longtime residents of Parachute retained a dogged optimism. They hope that a Union Oil Co. shale project in the area will stay on track and doubt that they have seen the last of Exxon. Said Cecil Gardner, 54, a Parachute native who operates the town's Conoco gas station: "There'll be a boom again. You just wait till gasoline goes up a few more cents a gallon. Oh hell yes, they'll be back." Local people still hope that Parachute and Battlement Mesa will not become ghost towns like Silver...