Word: exxon
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...some 50% of the nation's recoverable coal, with Montana and Wyoming containing the richest reserves. Wyoming alone has eight times as much low-sulfur coal as West Virginia and Kentucky combined. At the moment, the Powder River Basin straddling Montana and Wyoming attracts the most mining. Arco, Exxon, Sun and Kerr-McGee are already clawing the land, while Shell, Mobil and Peabody are laying plans to share in the basin's 40 billion tons of recoverable coal...
...experimenting with shale-oil extraction in Colorado's Piceance Basin. Occidental Chairman Armand Hammer believes that his company will be able to begin commercial production by 1985, keeping costs below $25 per bbl. Today other companies are digging mines near Grand Junction and Rangely, Colo., and Vernal, Utah. Exxon is the most enthusiastic: last May the oil giant paid Atlantic Richfield $400 million for its share in the Colony oil-shale project in Colorado, and now plans to spend $500 billion over the next 30 years to build 150 installations on Colorado's Western Slope. Estimated output...
...most threatened area in the Mountain West may be Colorado's gorgeous and still half-empty Western Slope. It is estimated that if Exxon does build 150 oil-shale plants there, the population in Rio Blanco and Garfield counties could shoot from 75,000 to 1.5 million. Colorado Senator Gary Hart has figured that the Exxon project alone would require enough new schools, hospitals and roads each year to accommodate a city the size of Grand Junction (pop. 54,000), now the largest city in western Colorado. Water would have to be imported from...
Just as has been the case all year, the hottest stocks were in the three areas that hold out the most promise for rapid growth and high profits in the energy-scarce, tension-riddled 1980s: oil, defense and high technology. With petroleum prices once again rising, Exxon shares leaped to an alltime high of $87.75, while Royal Dutch Petroleum, another big gainer, rose to a record $111.50 a share but lost a few points at week's end. Raytheon, a major defense contractor whose stock has nearly doubled in value during the year, closed the week...
...prospering lavishly. Sales are already approaching $30 billion annually and are expected to leap to nearly $100 billion a year by 1990. In addition to such giants as IBM, Xerox and Honeywell, the field is filling up with a host of newcomers. flush with billions in oil profits, Exxon Corp. has entered the market with its new unit, Exxon Office Systems Co., which is manufacturing and selling a range of desktop word processing devices. The company's QWIP transceiver sends and receives over regular telephone lines facsimile reproductions of charts, graphs, text or just about anything else that...