Word: exxon
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...most dramatic sign that shale had finally arrived came from Exxon (now ExxonMobil), the world's largest oil company. In May 1980 Exxon bought control of the Colony Oil Shale Project, a promising pilot venture near Parachute. Exxon paid $300 million up front and said it would invest at least $2 billion. The plant was supposed to produce 47,000 bbl. a day by 1985. And that was only the beginning. An internal corporate report predicted that by the mid-1990s Exxon would be producing 2 million bbl. a day from shale--enough to slice U.S. imports 20%. To accommodate...
...company town that was to be the hub of the new industry, still exists, but not for oil-shale workers. It has become a retirement community. Against a backdrop of majestic mountains, retirees pump iron, hike scenic trails, swim and play golf. There's no trace of the Exxon project that was supposed to be shale oil's breakthrough. All vestiges of the mine and outbuildings are gone. The road leading to the plant site is still there, but it abruptly ends at the top of the hill. The land has been reclaimed and today looks much as it always...
...shale projects of the 1980s were scrapped. Exxon spent $1 billion within two years of its much ballyhooed plunge into shale, then abruptly abandoned the project in 1982, citing market conditions and escalating costs. The Unocal plant actually did begin producing a modest amount of oil in the 1980s, but then in 1991 it too shut down, after heavy losses...
...four largest. The Oils Of War George W. Bush isn't the only one who had a good war. First quarter results hit record highs at British Petroleum, where net profit soared 136% to $3.7 billion; at Royal Dutch Shell, where profits jumped 96% to $3.91 billion; and at Exxon, which saw profits more than triple to $7.04 billion. Cracker Jacked A crummy week for Swedish cracker-maker Wasa, after a Swedish court ordered it to re-brand a 27-year favorite, Moraknaecke. Why? The crackers aren't made in the right region. With reasoning like that, can euro membership...
While the council in the spring of 1999 fought over bills endorsing same-sex marriage legislation and urging the University to divest from companies like and Exxon, Chevron and Mobil, today’s council’s biggest debates are over things like funding for student groups...