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...Levin targets the brief but headline-making pump-price spikes of spring 2000 and summer 2001 and calls for antitrust action against the industry, he forgets how the got on this merger kick in the first place: the rock-bottom oil prices of 1999. Disappearing profits induced Exxon and Mobil to join forces in search of a vertically integrated economy-of-scale that could find, pump, refine and sell oil without going out business, and the rest of the industry soon followed suit...
...getting the task force's blessing for incentives to build 38,000 miles of new pipeline. Nuclear-industry officials gave $150,000 while landing support for a waste-burial site--Bush later chose Nevada's Yucca Mountain. Former Representative Bill Paxon and another lawyer whose firm works for Exxon Mobil raised at least $100,000 apiece as the oil giant was persuading the panel to back a review of trade sanctions...
Though Bush would later brand Iran part of the "axis of evil," the task force proposed factoring in U.S. energy needs when reviewing sanctions against Iran and Libya. In addition to Exxon Mobil, two other oil giants, Conoco and Phillips Petroleum--each a $25,000 gala donor--have long opposed the sanctions, which deprive them of markets. Conoco president Archie Dunham, an old Cheney pal, visited him March 21 to press the case. Big Oil saw the task force's proposal as a victory, though hopes of lifting sanctions were dashed last summer. Congress voted to renew them...
...Though Bush would later brand Iran part of the "axis of evil," the task force proposed factoring in U.S. energy needs when reviewing sanctions against Iran and Libya. In addition to Exxon Mobil, two other oil giants, Conoco and Phillips Petroleum-each a $25,000 gala donor-have long opposed the sanctions, which deprive them of markets. Conoco president Archie Dunham, an old Cheney pal, visited him March 21 to press the case. Big Oil saw the task force's proposal as a victory, though hopes of lifting sanctions were dashed last summer. Congress voted to renew them...
...getting the task force's blessing for incentives to build 38,000 miles of new pipeline. Nuclear-industry officials gave $150,000 while landing support for a waste-burial site-Bush later chose Nevada's Yucca Mountain. Former Representative Bill Paxon and another lawyer whose firm works for Exxon Mobil raised at least $100,000 apiece as the oil giant was persuading the panel to back a review of trade sanctions...