Word: petroleum
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Dates: during 1990-1999
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...middle of the century, bosses had to be more clever, if not more subtle. Armand Hammer, whose business career lasted nearly the entire century, required many on Occidental Petroleum's board of directors--most of whom were employees--to give him signed, undated resignation letters that he could use if they tried to vote against him. His closest employees, according to one biographer, formed the Occidental Mouseketeers--with official membership drawings of a cowering mouse on a red carpet. But they weren't as beaten as the ITT execs of the 1960s and '70s, who were regularly grilled and even...
Since 1958, Shell Petroleum Development Company of Nigeria has conducted extensive oil drilling operations that have yielded 900 million barrels of crude oil from the land in which they live, known as Ogoniland. The World Bank reports that Nigeria suffers about 300 major oil spills a year, turning the "breadbasket of Nigeria" into a blackened and largely infertile wasteland...
...town sits smack atop a geological formation where sulfur, natural gas and other petroleum products mingle with the groundwater. The result is a nasty mix that is unusable to residents. Many of the town's wells are also contaminated with potentially deadly E. coli pollutants. So a commodity most Americans take for granted simply does not exist in Evansville. "My five-year-old daughter doesn't know what it's like to get water out of a faucet," says resident Helen Martin. For the past five years, 200 families in this hamlet in the northwestern part of the state have...
...Automobile Manufacturers Association, representing General Motors, Ford and Chrysler, refused to help pay for the latest anti-Kyoto TV ads produced by the Global Climate Information Project, an alliance of industry, labor and farm groups. And last week Washington's World Resources Institute brought together executives from GM, British Petroleum and Monsanto to pledge that their companies would contribute less to the greenhouse effect. "There is a rising tide of environmental awareness," says incoming Ford chairman William Clay Ford Jr. "Smart companies will get ahead of the wave. Those that don't are headed for a wipeout...
...more startling move while in Washington last week, the Crown Prince met with executives from U.S. oil companies that were driven out two decades ago when the industry was nationalized. Abdullah invited them to return to help develop petroleum resources, a move that would provide new investment in cash-strapped times and bolster Riyadh's strategic ties to Washington...