Word: exxon
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...wide agreement on international investment. Under such a plan, he said, investment funds might be governed in much the same way that the independently organized General Agreement on Tariffs and Trade (GATT) lays out rules for the movement of goods between nations. Emilio G. Collado, executive vice president of Exxon Corp., favored the notion of a proposed voluntary U.N. code of conduct for multinationals, under which, among other things, corporations operating abroad would pledge not to seek political leverage from their home governments...
...Feisal's words were not warning enough, Libya took another in a long series of actions designed to gain control of its oil. The regime decreed that Libya would nationalize 51 %-enough for full control-of five major oil companies operating in the country, including properties owned by Exxon, Mobil, Texaco, Socal and Shell. The Libyan government also declared that the companies must raise the price of oil from $4.90 to $6 a barrel. If the oil companies give in to Libya, they may be forced to make similar deals with oil nations in the Persian Gulf...
...that the oil industry is in. In Los Angeles, the antitrust division of the Justice Department is gearing up for a broad-gauge grand jury investigation of gasoline pricing. It has subpoenaed confidential records of more than 30 oil companies, including not only ARCO but also such giants as Exxon, Mobil, Texaco, Gulf, Standard of California, Standard of Indiana, Shell, Phillips and Union. Attorneys for the companies say that summonses will also be issued soon to a number of executives. They will be called to testify about whether there was a massive conspiracy to fix wholesale and retail gasoline prices...
...Francisco headquarters; some advocated burning Chevron credit cards. One night bags of red dye, symbolizing blood, were spattered against the headquarters building; an anonymous caller told the Associated Press that the act was designed to get Standard to retract its policy. Across the continent, a few Exxon customers, who apparently confused the company's former name-Standard Oil Co. (New Jersey)-with California Standard, threatened to turn in their credit cards...
...Rockefeller's Standard Oil Co. in 1911 did not go far enough. Instead of carving the empire into its functional parts-production, refining and marketing-Roberts says, "the Government split it along geographical lines, thus making every successor company vertically integrated." In fact, five of the charged firms -Exxon, Standard of Indiana, Mobil, Atlantic Richfield and Standard of California-were created by the breakup of Rockefeller's trust...