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Article: Heat makes Calumet pretty hot stuff
- Article from:
- Chicago Sun-Times
- Article date:
- September 8, 1988
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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Hundred-degree heat in Los Angeles may have caused upward of 500
electrical transformers in that city to burn out. This will help a
Chicago company, Calumet Industries, a specialist in making
lubricating oils that work at high and low temperatures.
Meanwhile, the price of crude oil pumped out of the ground in
Texas, Saudi Arabia, and elsewhere is coming down.
The drop in crude oil prices won't help Calumet, for the moment.
It isn't helping motorists, either. In fact, the price of gasoline
at the pump is edging up and may go higher.
A year ago, crude oil was priced up there at more than $20 a
barrel. Until recently, "black gold" sold at something like $18 a
barrel. Now the west Texas ...