OIL & GAS: For Peoples' People

OIL & GAS

Near Joliet, Ill. one afternoon last week, a group of oilmen and Chicago city officials assembled around a 30-in. pipe. While the state flags of Texas and Illinois fluttered in the breeze, the wheel of a big control valve was turned. There was a rearing whoosh, and gas from Texas began to flow to Chicago through a new 1,417-mile pipeline.

The pipeline, which cost a thumping $135 million, was laid by a subsidiary of Peoples Gas Light and Coke Co., Chicago's only gas supplier and one of the biggest in the U.S. It marked the latest step in a...

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