Word: mobilizing
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Against the recommendation of its advisory committee, the Harvard Corporation voted yesterday to abstain on a shareholder resolution that would force Mobil Oil Corporation's two South African subsidiaries to ensure that no Mobil products are supplied to Rhodesia...
South African industrial secrecy laws forbid Mobil from releasing any information on its business dealings in the area, and the government reserves the specific right to choose the subsidiaries' clients, Mobil claims...
While there is unquestionably a flow of foreign petroleum into Rhodesia, it has so far been impossible to determine whether any is from the Mobil subsidiaries, due to these regulations...
...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...