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Article: West Coast Gas Prices Throw Wrench in BP Amoco's Takeover Aspirations.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 19, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 19--BP Amoco has an agreement on the $30 billion takeover of Atlantic Richfield Co. where it produces oil in Alaska. But because of concern about how the deal will affect gasoline prices, swift approval seems less certain where BP sells its crude on the West Coast.
Californians are still smarting from a gasoline price spike last spring that pushed prices to almost $2 a gallon. The state's U.S. senators and attorney general are blasting the takeover, fearing it might increase already high gasoline prices. And regulators from the Federal Trade Commission are reportedly ready to block the takeover.
West Coast residents and Alaskans have opposing ...