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9 Cards in this Set
- Front
- Back
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________ formed in 1907 by
Andrew Mellon, purchased Guffey Petroleum Company, formed in 1901 to work the Lucas leases at Spindletop Sold to Chevron in 1984 |
Gulf Oil
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_________ formed in 1902 by James Hogg and Joseph Cullinan to work leases at
Spindletop |
Texaco
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Standard Oil Trust broken up by the Supreme Court, _____
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1911
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with Mobil, 1999)
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The “Seven Sisters”
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Rivalry between Standard Oil and Royal Dutch/Shell; between American and British interests; reflected tension and accommodation in the hegemonic transition between United States and Great Britain
1928 – truce reached on supply (Red Line Agreement) and markets (Achnacarry Agreement, “As-Is”cartel) |
Competition for New Supplies in the 1920's
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“Independents” began searching abroad and striking deals for new
international oil supplies |
Changes in World Oil Economy during 1950s
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Largest oil field discovered in the world in last thirty
years; now in steep decline |
Mexico’s Cantarell Oil Field
Discovered 1979 |
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OPEC could not enforce production quotas
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Low Crude Oil Price Regime, 1985-2000
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BP (Amoco and ARCO)
• ExxonMobil • Chevron-Texaco • Royal Dutch/Shell • TotalFinaElf Pressure to increase shareholder value |
1990s consolidation into five “Super-Majors”
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