Is TOTAL Selling Gas in the US? (r)

[steele@xxxxxxxxx]

Thomas Brackett <tom@xxxxxxxxxxxxxx> wrote:


> This may be a stupid question, but are the several TOTAL gas stations I =
> saw recently in Boulder CO., a retail outlet of the French TOTAL =
> corporation? There is a brand new one being built at the corner of =
> Arapahoe  and 17th St. just a block or two from the University of =
> Colorado. If what I suspect is true, that there is a connection between =
> TOTAL gas and the French corp. then perhaps we could enlist our friends =
> at the university in a little consciousness raising.=20
> ...tom

Total does have an American subsidiary.  Total France is the majority
owner of Total Petroleum North America (TOPNA).  I believe they own
between 40-60% of the sub, which means they control its operations.  I
have seen articles in the financial press to the effect that TOPNA is
for sale because Total wants out of the North American market.  The
North American subsidiary is only marginally profitable and in addition,
having a sub in the U.S. exposes Total to U.S. sanctions against
countries like Burma, Iran and Iraq.  It also exposes Total to
punishment by U.S. authorities when Total France violates embargoes or
sanctions orders, which they have a habit of doing.

Total North America is an attractive target for pressure because they
are owned and controlled by Total France and they have exposure in the
U.S. retail market.  For that matter, so does Unocal.  Although Unocal
has sold its retail outlets (marketspeak for gas stations), Unocal brand
gas is still for sale.  Also, under the terms of the contract Unocal
signed when it sold its gas stations, it has a profit-sharing
arrangement so they profit from sales of gasoline from those stations
even though they technically no longer own them.

DS