We Do It All for You

OPEC members once controlled oil production, period. Now they are raking in higher profits by taking over the industry from wellhead to gas tank

As Americans head for the beach or the mountains this summer, the odds are about 1 to 4 that they will be driving a foreign-built car. The chances are even higher that they will fill their tanks with foreign fuel, since about half the 300 million gal. of gasoline bought each day are made from imported petroleum. What few American consumers realize is that an increasing amount of the fuel they use is not only shipped, refined and delivered but also pumped into their car by foreign producers. To paraphrase the old Texaco jingle, The man who wears the star is...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!