Word: oiling
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Dates: during 1980-1989
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...OIL NOTES by Rick Bass (Houghton Mifflin/Seymour Lawrence; $16.95). There is no better conversation than good shop talk; here a petroleum geologist ("I know how to find oil") tells many of the tricks of his trade and proves, in the process, that he also knows how to write...
...Harvard Business School. The curriculum appealed to him far more than Cambridge's liberal atmosphere. Watergate was nearing its climax, and Bush pere was in a defensive crouch as Republican national chairman. The son sympathized from afar, then decided to take his M.B.A. back to Midland, to learn the oil business as a "landman," one who researches mineral and land records...
...primary over a more experienced rival. But in the general election Bush faced a Democrat as conservative as he and one who had spent his entire life in the district. Bush's Ivy League education became a cultural liability. He lost by 6 points. By the mid-1980s the oil industry's downward cycle had made capital increasingly difficult to come by for smaller operators. So he agreed to merge his outfit with Harken Energy...
...another major point, Allen rejected Paramount's claim that Time acted improperly in revamping its Warner deal after the Paramount offer was made. The precedent in judging such tactics is a 1985 Delaware case involving an effort by the California oil company Unocal to escape a raid by takeover artist T. Boone Pickens. In that case, the court decided that companies may take defensive moves only if they are "reasonable," as Unocal's were deemed to be. Paramount argued that Time's decision to launch the tender offer for Warner was excessive in proportion to the takeover threat and thus...
COVER: Captain Joseph Hazelwood was the best skipper in Exxon's fleet until his tanker rammed an Alaskan reef and caused the largest oil spill in U.S. history...