Citizen's oil factbook: what every citizen should know about the eighteen largest oil companies

Data and basic information are presented on the 18 U.S. oil companies that supply almost all of the country's petroleum needs. The following information is provided for each company: its assets; profits; top executive salaries; refinery locations and capacity; 1974 income tax rates; and an overview of its foreign and transportation operations, current litigation, and involvement in other energy sources. National and state-by-state marketing information is included as is a complete listing of the interlocks of each company's directors. It is shown that these companies are vertically integrated in every facet of the industry from exploration to marketing. Small independent industries have been nudged out of business in transportation, refining, and marketing by the large companies. Directors of the big 18 companies are also directors of banks, insurance companies, industrial concerns, broadcasting companies, and universities. It is noted that these companies are expanding into new areas of fossil fuel production (e.g., natural gas, oil shale, coal, and oil sands) and into other energy sources, including geothermal energy, nuclear fuels, and solar heating and power. The special tax breaks that the petroleum industry has received for the last 50 years have deprived the U.S. Treasury of billions of dollars and havemore » benefited foreign governments by giving the energy companies incentive to produce in other countries. These companies have considerable influence in Congress and Executive Departments and have tried to use their power to alter National foreign policy. (12 references) (BYB)« less