Word: texaco
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...underlying problem is that leading oil firms such as Texaco, Mobil and Gulf are funneling most of their gas to their company-run stations and drastically slashing sales to independents. The "majors" claim that they simply do not have enough gas to go round; the independents are certain that they do. They say the big companies are sitting on supplies in hopes of driving out the competition and pushing up the cost of their cheaper brands. Station operators also complain that while prices were held down at the pump, the COLC has permitted producers and wholesalers to raise the prices...
First came the artillery barrage: a series of ads In U.S. and European newspapers warning petroleum buyers that Texaco Inc. would "pursue all legal remedies to recover crude oil illegally taken from it in Libya." Almost Immediately, the attack began. Texaco and Standard Oil of California sued in Italy to recover from a Sardinian refinery a total of 640,800 bbl. of crude. The companies contend that the oil was pumped from their concessions in Libya and sold by the government of Colonel Muammar Gaddafi in violation of their contract rights...
...words were not warning enough, Libya took another in a long series of actions designed to gain control of its oil. The regime decreed that Libya would nationalize 51 %-enough for full control-of five major oil companies operating in the country, including properties owned by Exxon, Mobil, Texaco, Socal and Shell. The Libyan government also declared that the companies must raise the price of oil from $4.90 to $6 a barrel. If the oil companies give in to Libya, they may be forced to make similar deals with oil nations in the Persian Gulf...
...industry is in. In Los Angeles, the antitrust division of the Justice Department is gearing up for a broad-gauge grand jury investigation of gasoline pricing. It has subpoenaed confidential records of more than 30 oil companies, including not only ARCO but also such giants as Exxon, Mobil, Texaco, Gulf, Standard of California, Standard of Indiana, Shell, Phillips and Union. Attorneys for the companies say that summonses will also be issued soon to a number of executives. They will be called to testify about whether there was a massive conspiracy to fix wholesale and retail gasoline prices...
Joplin was born in the small oil-refinery town of Port Arthur, Texas, where her father was an engineer for Texaco. A docile, soft-faced child, she was a voluminous reader, and her grades were excellent. No incidents of her early childhood foreshadowed fame -or a life crudely bartered away in exchange for counterfeit thrills from drugs, sex and alcohol...