Word: texaco
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...been causing a worldwide petroleum shortfall of approximately 2.5 million bbl. a day. That is almost exactly the same amount that was lost during the 1973 Arab embargo, and oil companies are being forced to dip ever deeper into their inventories to make up for it. Last week Texaco, Shell and British Petroleum announced delivery cutbacks to their worldwide customers because of the supply pinch. In the U.S., current stockpiles amount to a 70-day supply for crude. Said Schlesinger to the Senate committee: "As we reach 60 days, one should get quite nervous...
...touched off by the 1973 oil embargo discourage investment in new refineries because the return on investment is too low when compared with that produced by other operations. As supplies diminish, more and more oil firms are limiting deliveries of both leaded and unleaded to dealers. Two weeks ago Texaco joined American Petrofina and Phillips Petroleum in allocating supplies, and last week Chevron sought Government permission to take similar steps. Says Texaco Vice President Annon Card: "If demand keeps going up, we'll have even greater problems as we get closer to the peak driving season...
Both candidates are staunch advocates of the state's oil and gas interests. Krueger first gained notoriety when, as a freshman representative, he almost pushed a deregulation bill through the House. Bumperstickers which read "Krueger of Texaco" have surfaced recently, parodying his campaign slogan, "Krueger of Texas." And what Tower lacks in flair as a champion of industry, he makes up in consistency...
...hospital with chemotherapy and cobalt treatments. Now they say it's regressed." It is the beginning of another day in Evanston, Wyo. (pop. 4,848; elevation 6,748 ft.), and while Shepherd talks, the oil and water stains on the cement driveway of the A & A Texaco station are turned to rainbows by the morning...
Much of the trouble traces to a conservative management obsessed with secrecy. It goes so far as to send the new employer of most technical people who leave Texaco a gratuitous letter demanding that the new boss not ask the employee to divulge any confidential information. One bright spot: Texaco has been the first to turn up signs of oil and gas in the Baltimore Canyon...