Word: richfield
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...What's your idea?" Again and again the Atlantic Richfield oil company asked that question in a six-month, $5.5 million advertising campaign that nagged Americans to send in suggestions for improving mass transportation. The company's own idea was plain enough. Top executives of Arco, the seventh largest U.S. oil company, were upset by public resentment of the big profits rolled up by the industry in the wake of the 1973-74 price increases. So they decided to do some image polishing by sponsoring a nationwide debate on alternatives to the family car. The response: an astonishing...
...Amerada Hess, Atlantic Richfield, British Petroleum, Exxon, Mobil, Phillips, Sohio and Union...
...price increases on propane (bottled gas). In addition, the Government has refused to allow the oil companies to pass on to their customers $412 million in accumulated costs. Some of the bigger names on the list of oil companies making refunds or being forced to swallow costs: Ashland, Atlantic Richfield, Continental, Skelly, Phillips, Amerada Hess, Sun, Shell, Texaco. Among the larger refunds or rollbacks are Charter Oil's $19.8 million and Kerr-McGee's $23.5 million...
There is considerable doubt in and out of Washington about just how effective a floor price would be in promoting energy development, particularly in the U.S. Atlantic Richfield Co. and three other firms recently suspended a big oil-shale project in Colorado after cost estimates for a 50,000 bbl.-per-day plant jumped from $450 million to $800 million. A price of $7 for oil, concluded the Federal Energy Administration in its Project Independence Blueprint last fall, could boost consumption back to wasteful levels while providing only a slight stimulus to production, thus actually increasing U.S. dependence on foreign...
Businessmen and prominent public figures who spoke at the hearings were equally frank. One of the most optimistic predictions came from Thornton Bradshaw, president of Atlantic Richfield, who thought that the U.S. could reduce its dependence on foreign oil from 18% of total energy consumption now "to perhaps as low as 15% by 1980 and possibly 10% to 13% by 1985." Most other speakers, including Sawhill, guessed that the U.S. would be importing 25% of its oil eleven years from now, v. about one third early this year...