Word: exxon
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...time they reach the top, Exxon men have had any crudities refined by long exposure to varied jobs, people, countries and governments. Author and Oil Consultant Ruth Sheldon Knowles, who has traveled widely around the Ex xon empire, says that most of the Exxonians working overseas seem to be better informed about foreign politics and society than the U.S. diplomats stationed in their countries...
Their bosses caution Exxon men to treat all governments alike: maintain friendly and correct relations, but never get too close or become too hostile...
...Since Exxon intends to stay in a country long after both the present government and its successor are gone, it must get along with any kind of regime, from right-wing dictatorship to left-wing populist to outright Communist (witness its Polish contract). Jamieson keeps on his office coffee table a handsome cigarette box presented to him by the late President Sukarno of Indonesia, a vehement foe of both the U.S. and capitalism. Jamieson notes that he has negotiated directly with the Shah of Iran...
...plentiful and cheap foreign crude. U.S. refineries have about 3 million to 4 million bbl. less daily capacity than they would need to meet "normal" domestic demand of close to 20 million bbl. That lack will contribute to keeping supplies tight for years after the Arab embargo ends. Now Exxon, which accounts for about 10% of the nation's refinery runs, is almost doubling the 300,000 bbl.-a-day capacity of its refinery at Baytown, Texas, and adding 100,000 daily bbl. to the capacities of other U.S. refineries...
...amount of new building, however, will head off the political onslaught that the oil industry faces in the U.S. At minimum, Exxon will have to put up indefinitely with much tighter federal regulation. For instance, under a Government allocation program, it must sell 140,000 bbl. of crude a day to American competitors whose refineries are less well supplied than Exxon...