Oral History Interview with William Tucker, September 25, 1985 Page: 91
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91
Marcello:
Tucker :
Marcello:part not only in your career but in the development of
Caltex.
Well, Ikm fuzzy on dates, and I'm relying entirely on a
rather poor memory for this recitation.was in a rising market. So every oil man hopes, again, to
see a rising oil market.
All of this, of course, was originally leading up to the
formation of OPEC.
Well, the Venezuelans, I guess, were the principal driving
force in the formation of OPEC, and this preceded the
dollar-a-barrel crude oil of 1969 or 1970. Maybe 1970 was
the bottom of the market. I can remember when the Saudis
and the other Middle East producers really came into OPEC
in the middle to early sixties, I guess. I'd have to go
back to be sure. Then OAPEC was formed, which is the
Organization of Arabian Oil Exporting Countries, and I
remember the sense of alarm that existed in Caltex in
general when the Bahrainis decided to join OAPEC. But we
always managed to manage our affairs with the Bahrain
government. I haven't mentioned Bahrain, which in sort
of the later middle years in the midst of my career was
really a, very important part. I got handed the task of
negotiating the participation arrangements with the Bahrain
government.
Why don't we go into that? I think that's a very importantTucker:
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Marcello, Ronald E. & Tucker, William. Oral History Interview with William Tucker, September 25, 1985, book, September 25, 1985; Denton, TX. (https://texashistory.unt.edu/ark:/67531/metadc2137858/m1/93/?q=%22~1%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Oral History Program.