The Prize: The Epic Quest for Oil, Money, and Power - Part 2, Chapter 14 Summary & Analysis

Daniel Yergin
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Part 2, Chapter 14 Summary

In August 1928, Deterding rented Achnacarry Castle, a hunting estate in western Scotland, to host a secretive meeting of colleagues to discuss the troubled state of the oil industry. The group had been regular hunting companions for years, but this time were joined by Heinrich Riedemann of Jersey Standard-Germany, Cadman of APOC, William Mellon of Gulf, and Robert Stewart of Indiana - and a large clerical staff. The press was suspicious, but remained at a distance. The oil men wanted a formal treaty to end the price wars in Europe and Asia. The "unbridled competition" that Rockefeller and Flagler had fought at the dawn of the oil age was again proving to be a looming threat, but this time no company had the power to "sweat" others into submission. Behind the scenes, the British government pushed for cooperation. After two weeks of...

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This section contains 1,274 words
(approx. 4 pages at 400 words per page)
Buy The Prize: The Epic Quest for Oil, Money, and Power Study Guide
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