Word: exxon
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...addition to stock in Exxon, Clarke Equipment and International Harvester Inc., the college plans to sell all its stock not bound by donor restrictions, Charles R. Longsworth, president of Hampshire College, said yesterday...
Over half of Hampshire College's 1300 students signed a petition in March protesting the school's ownership of $39,000 worth of stock in Texaco, Exxon, Clark Equipment, and International Harvester...
Wide Variables. Though they have scant evidence to back their accusation, some Washington officials charge that the energy companies understate reserves in order to promote price deregulation. Industry leaders respond that estimating reserves is a highly inexact science. Explains Dale Wood-dy, chief of Exxon's domestic natural-gas operations: "Two well-qualified engineers can take the same raw data from a new field and come up with reserve estimates that may vary by more than...
...underwater exploration for oil or gas is still more of an art than a science. Only one-third of all wells dug in the gulf are now producing; Exxon, Mobil, Champlin and others have spent more than $1.5 billion exploring off Pensacola, Fla., without discovering anything except salt water. Worse, federal investigators suspect that gulf producers in recent years have been purposely holding back production in hopes that federal price controls will be removed and the gas will eventually sell for $2 or more per 1,000 cu. ft., rather than the present top interstate price...
...distinguished U.S. oil economist has challenged that assumption. In an impressively documented book titled The Control of Oil, just published by Pantheon Books, Dr. John M. Blair argues that the real culprits are the major international oil companies, known familiarly as the Seven Sisters (Exxon, Mobil, Standard Oil Co. of California, Texaco, Gulf, Royal Dutch Shell, and British Petroleum). In Blair's view, the companies actually aided and abetted the OPEC increase, while pleading helplessness to their price-gouged public. "A form of bilateral symbiotic oligopoly" is the author's complicated if caustic term to describe the relationship...