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Many Texas oilmen believed the case hinged on the worth of a man's handshake. But Jamail buttressed his case with a memorandum of agreement signed on Jan. 2 by Liedtke, Getty and Harold Williams, who represented the J. Paul Getty Museum. The document called for Getty to be acquired by a partnership of Pennzoil and a trust composed of the Getty heirs. Jamail contended that Texaco had unethically pressured key Getty shareholders to break the pact with Liedtke and opt for a higher offer...

Author: /time Magazine | Title: Texas-Size: Pennzoil wins $10.5 billion | 6/21/2005 | See Source »

...Karl Rove has educated himself on issues as arcane as the vagaries of ethanol transport, and there is a drizzle of funds for research into alternative fuels in Bush's big fat energy bill. But the President and Dick Cheney, who has been in charge of energy policy, remain oilmen at heart, skeptical about a major Manhattan Project-style national campaign to redirect the energy market, mindful of the time and expense necessary to build a new infrastructure and the pipelines, refineries and fueling points necessary to exploit alcohol-based fuels...

Author: /time Magazine | Title: The Perils of Hands-On Diplomacy | 4/30/2005 | See Source »

Canada did just that. As with the oil-shale deposits in the U.S., geologists and oilmen long knew about Alberta's immense oil-sands resources, but technological obstacles and high costs prevented development. Unlike conventional oil deposits that can be pumped to the surface, oil sand is a heavy, tarlike substance that must be mined and processed before it can be refined into gasoline and other products. Today's burgeoning industry is a testament to both government incentives and oil-company determination...

Author: /time Magazine | Title: Asleep at the Switch | 10/13/2003 | See Source »

...encouraging note in Donald L. Barlett and James B. Steele's report on the U.S.'s impending fuel crunch was the success of Jimmy Carter's effort to reduce oil consumption, something that is clearly not a goal of the oilmen in the Bush Administration [SPECIAL REPORT, July 21]. The obvious solution to the energy crisis, though not the one Bush and Vice President Dick Cheney want to see, is conservation, mandated improvement of energy efficiency and development of renewable sources of energy. Pretty simple--unless your primary goal is increased profits for oil companies. CHARLENE M. WOODCOCK Berkeley, Calif...

Author: /time Magazine | Title: Letters: Aug. 11, 2003 | 8/11/2003 | See Source »

...revive America's moribund nuclear power industry--even though the last order for a plant that actually went online was placed in 1973. It would parcel out nearly $10 billion in tax breaks and subsidies to oil and gas companies that will not erase falling production but instead enrich oilmen and investors. At the same time, the President's proposed budget slashes spending on wind research by 5.5%, zero-energy buildings by 50% and biomass by 19%. To add to the insult, the Administration took the money to print its 170-page 2001 National Energy Policy out of the budget...

Author: /time Magazine | Title: The U.S. is Running Out of Energy. | 7/21/2003 | See Source »

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