Word: exxon
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...outlook seems bleak enough as matters stand now. Though most U.S. gasoline stations still have enough fuel on hand to meet the demands, oil company deliveries are rapidly being pared back to stretch dwindling inventories. Exxon's supplies are becoming so tight that last week the company had to impose an $8 limit on gas purchases at its stations along the heavily traveled New Jersey Turnpike. Exxon also said it would not renew crude-oil supply contracts with other companies, a step that is going to make it harder for the firms that have been cut off to meet...
...group of 48 Roundtable member firms, among them AT&T, General Motors, Exxon, Procter & Gamble, Dow Chemical and Eastman Kodak, were examined for the added costs caused in 1977 by just six federal regulatory agencies and programs. The total: $2.6 billion, which was equal to about 16% of the companies' net profits, 10% of their capital expenditures and 40% of their R. & D. budgets for the year. IBM Chairman Frank Gary, who supervised the study, reckoned that the $2.6 billion figure, extrapolated to cover the whole U.S. economy, would yield an overall cost of regulation that is "not inconsistent...
Such tactics have caused oil executives to mutter about drawing up a blacklist of their own, perhaps to refuse to deal in the spot market with OPEC countries that will not honor their legally binding contracts. Said Clifton Garvin Jr., chairman of Exxon: "It is our belief that we should not buy oil at present high spot market prices." Others do not seem so confident. Last week Royal Dutch/Shell, a major customer of Iranian crude before the ouster of the Shah, was back in the loading queue for a new supertanker cargo at an undisclosed price...
Each major oil company charges almost exactly the same wholesale price to all its franchised dealers. Exxon's price to its dealers throughout the U.S. varies by as little as tenths of a cent a gallon for the same grade of gas. But the wholesale price can differ drastically from company to company. In Houston, for example, Exxon sells unleaded gasoline to its service stations for 56.9? per gal. and Phillips for 65.1?, while Shell charges 61.8? for its premium unleaded. The oil companies have no control over the price at the pump. That is set by the individual...
...each sector of the gasoline business point to those in the other. All the major companies have raised their wholesale prices, and there is endless debate over whether or not these increases are justified by the rising costs that the firms must pay for oil. Since early November, Exxon has boosted its wholesale price for regular gas by 4.3%, to 47.9? per gal.; Mobil has lifted its price 10% to 51.9? per gal. and Amoco 11.4% to 50.6? per gal. The service station dealers then normally pass these wholesale increases on to their retail customers. The station owners commonly...