Word: petroleum
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Occidental Petroleum, owner of the Piper Alpha platform, said it believed a gas leak was to blame, but days or weeks would be needed to determine what caused and ignited it. Occidental said the three-quarters of the 649-foot-high rig was destroyed...
...stand up and insist on not going along with wrongdoing, you're going to have people try to crush you." Recalls Williams: "Ashland Oil had been my life. I felt fiercely loyal to the company, but I felt betrayed." Both men believe they were blacklisted by the petroleum industry after they left Ashland. The executives can hope, though, that their victory may bring about some change in corporate ethics. Says Thomas Dunfee, a professor of social responsibility at the University of Pennsylvania's Wharton School, of the Covington judgment: "I think it's likely to give managers courage when they...
...natural resources? Scientists first saw evidence 15 years ago that there might be oil beneath the area's coastal waters, and some geologists believe any such deposits could be the world's last untapped "elephants," as huge fields are called. Yet no provision existed to regulate exploration for petroleum or for anything else in Antarctica, a continent that has been run more or less by multinational committee since 1959. Now representatives of 33 nations have finally agreed on a treaty to govern development of all natural wealth on -- and under -- the southern land mass. Says State Department Official Tucker Scully...
...appeal of earmarking has attracted interest even from private developers. In Los Angeles the Occidental Petroleum Corp. has sponsored a ballot initiative to allow it to drill for oil near fashionable Pacific Palisades. The proposal upsets local homeowners, but Occidental has plans to offset their votes: the oil company pledges to pay taxes estimated to exceed $60 million a year for the police, $40 million for city hall and $25 million for the schools. All earmarked, of course...
...time to address the neglected problem of petroleum depletion, before another energy shortage strikes. We must subsidize research for new recovery techniques, synthetic fuel and alternative energy sources. More importantly, we must renew the campaign to reduce demand for energy through conservation...