Oil and Honor

Thomas Pezinger, Author, Thomas Petzinger, Jr., Author Putnam Publishing Group $19.95 (495p) ISBN 978-0-399-13276-6
Texas-based Pennzoil Company in 1984 achieved what was thought to be a binding agreement to acquire multibillion dollar, oil-in-the-ground assets left by J. Paul Getty to his heirs and the Getty Oil Co., only to learn hours later that New York-based Texaco had beaten them out. The ensuing legal battle, in which Pennzoil initially won an unprecedented $10.3 billion judgment, is vividly detailed here in a thriller-style chronicle by a Houston staffer for the Wall Street Journal. Petzinger's financial, juridical and cultural saga pits North against South, East vs. West, handshake-honor wildcatter against Wall Streeters, with Getty heirs stirring confusion and lawyers slugging it out in a court struggle that still goes on. (Texaco has requested a new trial.) A must for the oil industry and stock-market crowd and a highly instructive entertainment for everyone else. First serial to the Wall Street Journal. (June 12)
Reviewed on: 05/01/1987
Release date: 05/01/1987
Genre: Nonfiction
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