Word: mattei
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...same way Fidel Castro, who pumps Soviet oil through confiscated U.S.-owned refineries, pays in both money and sugar for the 2,500,000 tons of crude he is scheduled to get from Russia yearly. To get into the important Italian market, Moscow signed up with Oil King Enrico Mattei's mammoth state-owned ENI oil monopoly to deliver 12 million tons of oil in 1961-64 in exchange for 240,000 tons of steel pipeline tubing and 50,000 tons of synthetic rubber. The cost works out at about half the normal price for Persian Gulf crude...
...five Communists killed in Reggio Emilia, the riots had served to rally non-Communists temporarily to the support of the Tambroni government. But there was little rejoicing among liberal Italians, who recognized the neo-Fascists as a constant source of similar trouble for the government. Wrote Pundit Enrico Mattei: "The Tambroni government cannot go while there is violence. But when the violence ends, let it go in favor of a more representative government stronger and better equipped to cope with sedition...
...charging high prices for the gas (competing fuel oil must pay 24% taxes against his 14.8%), Mattei has some flashy results to show: he has accumulated huge sums for oil exploration, owns pipelines, a tanker fleet, a spanking new synthetic rubber and fertilizer plant, and a string of thousands of bright yellow filling stations across Italy. He operates eight motels and is building nine more. He is also at work on an $80 million nuclear-power plant...
Trout & Charity. These successes conceal Mattei's bleak record in oil development. He has driven private oil-producing firms out of Italy, and while neglecting oil exploration in the promising Po Valley, he has scattered his capital around the Middle East, acquiring concessions in Iran, Egypt, Morocco and Somaliland, with little to show for it. He benefits from laws left over from fascism, which give his state organizations monopolistic power...
...assets total some $2 billion, and receipts run to $500 million annually, but exactly what it spends and earns is a mystery even to the government owners; its balance sheet is, by Mattei custom, uninformative. With it he can buy political influence-he is a lavish contributor to the Christian Democratic Party-but Mattei, independently wealthy, lives almost austerely in a Rome hotel, turns over his salary to charity. At 53, his main interest outside of ENI is trout fishing. "I am going to retire at 60," he says, and critics ruefully acknowledge he is so well entrenched that there...