Word: oiled
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Dates: during 1980-1989
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...since the energy shocks of the 1970s has a Big Oil company been so vilified. From corner filling stations to the halls of Congress, Exxon came under attack last week for its role in the Alaskan oil spill. In Washington leaders of two consumer groups gathered near an Exxon station to call for a nationwide boycott of the company's products. On New York's Long Island, Suffolk County Executive Pat Halpin said the local government would cut its contractual ties with Exxon as a supplier. In California a lawsuit was filed that accused the oil company of boosting gasoline...
Exxon helped fuel the anger last week, when the company's Alaska coordinator, Don Cornett, admitted that the oil company would add some of the cleanup costs to the price of its products. Said he: "If it gets to the consumer, that's where it gets. It's just like any other cost of doing business." Urging Exxon customers to respond by cutting up their charge cards, Ed Rothschild, spokesman for the Washington-based Citizen Energy/Labor Coalition, declared, "Consumers do not have to be added to the list of Exxon's victims...
Until the grounding of the Exxon Valdez on March 24, the largest U.S. oil company had been cruising along with a good reputation and 1988 profits of $5.3 billion. But now Exxon faces not only a public outcry but also a financial liability that could dent its earnings and preoccupy its managers for years. Some 20 class-action lawsuits have already been filed on behalf of Alaskan fishermen and businesses. The company is even getting something of a cold shoulder on Wall Street, where last week it ran into unexpected trouble selling a $110 million issue of two-year bonds...
...Some oil-industry experts have alleged that Exxon's sluggish initial response to the Alaskan accident was partly the result of another corporate lapse: the reduction of its spill-management staff during cost cutting in the mid-1980s. The company lost nine of its top environmental and spill-control officers, including scientist G.P. Canevari, the inventor of Corexit 9527, a commonly used oil-slick dispersant...
...series of headline-grabbing actions initiated by President Carlos Salinas de Gortari since he took office late last year. In January, after a sensational shoot-out in Ciudad Madero, police arrested Joaquin Hernandez Galicia, known as "La Quina," the powerful and widely feared leader of Mexico's oil workers' union. A month later Eduardo Legorreta Chauvert, a top businessman with ties to the Salinas government, was jailed on charges of stock fraud. What La Quina, Legorreta and Felix Gallardo have in common is that they are renowned for using patronage and corruption to put themselves beyond the reach...