Word: richfield
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...Thornton F. Bradshaw, president of Atlantic Richfield Co.; Ian MacGregor, chairman of American Metal Climax, Inc.; John W. Simpson, president of Westinghouse Electric's Power Systems Co.; Alfred J. Eggers Jr., assistant director for research applications of the National Science Foundation; and Lee C. White, chairman, Energy Policy Task Force, Consumer Federation of America...
...cent in 1973 to $2.4 billion, the company increased 1974 investment in the search for oil 73 per cent, to $6.1 billion. Gulf's profits were up 79 per cent in 1973, to $800 million, but Gulf has increased its 1974 capital investment to $2 billion. Atlantic Richfield, making $270 million last year, plans to double its capital investment in 1974 to $1.1 billion. The same is true for all oil companies, large and small. The oil companies are reinvesting all of their higher profits, and even more...
Last week, in a move deliberately timed to coincide with the oil-consuming nations' talks in Washington -which some Arab countries saw as "an act of aggression"-Libya pointed up the trend. It nationalized the local operations of Atlantic Richfield, Texaco and Standard Oil of California, which together produce about 9% of Libya's daily output of 2 million bbl. a day. The U.S. companies will be compensated for their facilities, but the details of payment remain to be worked...
...shortage or exhortations to conserve energy. Amoco, which last April dropped a $1 million product campaign aimed at luring vacationers into the company's gas stations, now runs print and TV "progress reports" on subjects such as "America's great natural-resources appetite." With cameras, Atlantic Richfield followed two overweight men around while they attempted to live without their cars. Each of them lost 35 pounds in three months of walking and watching their diets. Arco commercials now advise weight watchers: "Leave your car in the garage...
Many companies are spending less on energy-crisis ads than they did on their old product pitches. Oil firms tend to guard their advertising figures jealously. But Standard of California cut its advertising budget by 70% last year; Atlantic Richfield's 1974 ad budget is 40% lower than last year's. Standard of Indiana executives predict that in 1974 their advertising outlay will be less than half the $28 million it was in 1970. One of the few firms that plan to advertise more is Exxon, which anticipates a "substantial increase" over last year's expenditure...