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| was nearing death and had 45 sons of whom 37 were thought to still be alive |
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| , Socal’s chairman, thought a joint venture with Jersey would be good because Aramco would be able to sell so much additional oil through access to Jersey’s system |
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| head of the Office of International Trade Policy wanted Jersey to sell its IPC shares to Socony and then go in it alone into Aramco- plan was not practicable |
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| gave his approval of the marriage of the four companies |
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| the concession in Saudi Arabia had been solidified. Also, President Truman delivered the “all-out speech” proposing special aid to Greece and Turkey to enable them to resist communist pressure |
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• Gulf Oil was half owner of the Kuwait Oil Company and its partner was Anglo-Iranian
• Gulf needed outlets in Europe in order to sell Kuwait’s rapidly rising tide of oil
• Colonel Drake, Gulf’s President, answer was the Royal Dutch/Shell Group who had two large markets in the Eastern Hemisphere, particularly in Europe but very little Middle Eastern oil |
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• was under pressure from the Soviet Union
• The " " Crisis of 1946 was the first major East West confrontation of the Cold War- Stalin would not withdraw from northern Iran until there was pressure by the U.S. and Britain
• Soviets wanted Iran as a defensive move to protect its own oil position (Baku was very close to the Iranian border” |
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didn’t know what to do with its very bad oil position- oil fields were seriously damaged with little promise for the future
made its demands for a joint oil exploration company within Iran |
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• Stalin also wanted because he wanted to build up his own sphere in bordering countries and to expand Soviet power and influence wherever he could
• Stalin pulled back his soldiers from northern" " in 1946 but still sought to establish a joint Soviet-" " oil company |
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| was unstable, the political institutions were weak, and there was the grave possibility of civil war or even the disappearance of Iran into the Soviet bloc |
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| made Europe change from a coal-based economy toward one based on imported oil |
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| supported the pipeline because without it the European recovery program will be seriously handicapped |
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1040 miles would replace 7200 miles of sea journey from the Persian Gulf through the Suez Canal
• The oil it carried would fuel the recovery of Europe |
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took a gamble- there was no competition for offshore sites in the Gulf of Mexico
• Sunday morning October 1947, on Block 32 ten and a half miles off the Louisiana cost, its drillers struck oil
• the technology and know-how did not exist for building a platform, getting it into position, drilling into the ocean floor
• Offshore well could cost as more as 5 times more than an onshore well |
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considered the alternative to imported oil
• It was also considered the orphan of the oil industry only was used in the Southwest
• The problem of " " was transmission how to get it to the markets in the Northeast and Midwest |
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| Big Inch, Little Inch, Biggest Inch |
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were sold to the Texas Eastern Transmission Company and turned into natural gas pipelines
• Pacific Lighting championed a project that hooked up LA by a large-diameter pipeline to the gas fields in New Mexico and West Texas- |
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