Conoco Says Its Gasoline Prices Remain At Pre-Attack Levels.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Sept. 12, 2001 Conoco (NYSE NYSE See: New York Stock Exchange :COCA coca (kō`kə), common name for shrubs of the genus Erythroxylum, particularly E. coca, of the family Erythroxylaceae, and found abundantly in upland regions and on mountain slopes of South America, as well as in Australia, India, )(NYSE:COCB) said it has held the line at pre-attack levels on the prices it charges for gasoline gasoline or petrol, light, volatile mixture of hydrocarbons for use in the internal-combustion engine and as an organic solvent, obtained primarily by fractional distillation and "cracking" of petroleum, but also obtained from natural gas, by at its company-owned stations and to its wholesale customers, and is encouraging its independent retailers to exercise similar restraint. Richard Severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when , president of Conoco's U.S. downstream operations, said supply conditions that exist tonight are no different than those that existed prior to the terrorist attacks, and therefore do not indicate that any abnormal increases in gasoline prices will be necessary. Severance said that overall, ample supplies are available and discouraged panic buying Panic Buying High volume buying brought about by sharp price increases. Notes: The main problem with panic buying is that investors are not evaluating fundamentals. Instead, they are blindly buying before prices rise even more. , which could lead to local shortages. Severance said that Conoco would continue to exercise "common sense and restraint" in any pricing decisions. Conoco is a major, integrated energy company with operations in more than 40 countries. www.conoco.com |
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