Word: exxon
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...coal on land that it has been leasing for four years. This will replace 600,000 tons of coal that the company now buys annually on the open market. Last month, with an eye to profits, the beer company created Coors Energy, a subsidiary staffed with some former Exxon employees. The firm may soon become still more active in that field. Says William Coors: "If the energy business is better, we'll be pushing it ahead of the beer business." To swillers of the Golden, Colo., suds, that could be too much of a good thing...
...major oil companies contended they were at the mercy of OPEC. But the year between the first quarter of 1979 and the first quarter of 1980, Occidental's profits increased 236 per cent, Mobil's rose 105 per cent, and Exxon's jumped a tidy 102 per cent. Poor Gulf could only boast of a 56 per cent profit increase...
...profit oil company came out of the native notion that if you could return the billions of dollars in oil company profits you could do a lot for people," Kennedy says. "After all, in 1979 the whole national fuel assistance plan budget was only 11.6 billion. But Exxon's profits alone were $4.3. billion. Four billion dollars," he adds, "You could do a lot with that kind of money...
...People said it couldn't be done. They said Citizens was a one year thing. A political thing. And now we are back again," Rothstein says. "We do what Exxon does, only we are non-profit--and we don't have exploration costs. But out basic philosophies are directly contradictory. We are competitors, in an absolute sense, not a real sense. We are an idea. And if we are legitimized other people may decide...
...Exxon is reconsidering the scope of its plans, but the development already taking place in western Colorado is leaving its mark. In Craig, which has doubled to 8,000 since 1975, businessmen boast of the new mall with 26 stores; clapboard houses that sold for $30,000 in 1974 now go for better than twice that amount. But Sheriff S.L. Valdez is handling three times the calls he did two years ago, and Carl Andrews, an Episcopal priest, reports a heavy incidence of depression and child abuse. Says he: "A lot of the hopes and dreams never materialize...