Word: petroleum
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...cite me as "accusing the multinational oil firms of merely acting as tax-collection agents for the oil exporters." No need to accuse anyone: the board chairman of British Petroleum called the companies tax-collecting agents, and I think rightly. As for any "concerted diplomatic effort to break the OPEC cartel," that cannot happen soon. Our Government, by threatening to pre-empt oil supplies and sponsoring preferential treatment for Saudi Arabian oil, has so scared and embittered our European and Asian friends that they would not listen even if we spoke the truth...
...reserves and volume of production, the North African nation of Libya ranks decidedly behind such major Middle Eastern producers as Iran, Saudi Arabia and Kuwait. But in ability to send shock waves through the world petroleum industry, Libya stands second to none. Libyans have already helped lead the ten other members of OPEC, the Organization of Petroleum Exporting Countries, in doubling per-barrel prices over the past three years. In the past two years, Libya's President, Colonel Muammar Gaddafi, has nationalized British Petroleum's operations and negotiated a 50% share in Italian oil holdings; earlier this year...
...targets are Oasis Oil Co., which is owned by Continental Oil, Marathon Oil, Amerada, Hess and Royal Dutch/Shell; American Overseas Petroleum Ltd., owned by Texaco and Standard of California; and Occidental Petroleum. Negotiations between Oasis and the Libyans over the 50% demand had been proceeding fitfully for months until last week. Then Gaddafi called a Tripoli press conference and produced a couple of Israeli grapefruit that he said had been confiscated by Libyan workers at a pipeline terminal run by Oasis, the largest foreign producer. He accused Oasis of allowing Israeli spies to operate in Libya disguised as oil workers...
...have had trouble finding any distributors willing to supply city vehicles with gas. Tugboats have been stranded on the Mississippi with empty tanks. Farmers fear running out of fuel for their tractors and irrigation systems. Some half a dozen Congressmen have been working on bills to give the President petroleum-rationing authority...
...last week Deputy Treasury Secretary William Simon, chairman of the Government's Oil Policy Committee, announced an Administration plan to allocate petroleum supplies. The aim, Simon said, is "to share the shortages equitably." Basically, the measure asks major petroleum refiners and marketers to apportion their supplies to customers on the same basis as they did during the twelve months ended last September. Major oil companies have been shipping enough gasoline to their own name-brand filling stations, but they and independent refiners have been cutting off many small marketers-mostly cut-price, off-brand outlets. The victims have charged...