Word: petroleum
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Dates: during 1980-1989
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...opposing side, marching beneath such catchy acronyms as FUEL (Fuel Users for Equitable Levies) and TRIP (The Road Information Program), are some unlikely fellow travelers. Among them: the American Petroleum Institute, which represents big oil companies, and Americans for Democratic Action, a left-wing organization that rates public office holders on their support for liberal issues. Both groups contend that a gas-tax increase would unfairly burden lower-income motorists because they spend a higher proportion of their income on fuel than better-off drivers do. The opponents are joined by state legislators, who fear that a higher federal levy...
...introduced two bills to raise the gasoline tax. Both have gone nowhere. The undaunted Beilenson plans to try again in 1989. "The math just calls out for taxes," he says, "and this is one of the simplest ones around." Says John Gore, a Washington representative of British Petroleum: "Nobody's pushing for a higher gas tax, but it seems to have a life...
...leveraged buyout of RJR Nabisco. For its share in financing history's largest takeover, Drexel expects to take in $229 million before expenses. Many clients still profess their allegiance. Says raider and oilman Pickens, who relied on Drexel's financing clout to make bids for Gulf Corp. and Phillips Petroleum: "I have the highest regard for Fred Joseph...
...Petroleum companies and their executives are among the largest contributors of soft money. Their greatest fear is that the next Administration and Congress may try to help balance the budget by raising taxes on gasoline. Oil and real estate baron Nicolas Salgo gave more than $500,000 to the New York State Republican Party. Great Western Resources of Houston donated $100,000 to the Democrats. Los Angeles-based Arco played both sides of the contest, with a $135,000 contribution to the Republicans and $85,000 to the Democrats...
...million drop reflects the fact that Harvard decided during the previous fiscal year to sell its holdings in six companies--Mobil, Texaco, Chevron, Royal Dutch Petroleum, Ford Motors and Phelps Dodge. The CCSR announced that decision last year...