The TLP had other very considerable advantages.
Its great buoyancy put the anchor cables under constant tension, and this tension practically eliminated the heaving, pitching and rolling of the platform. Thus the rig could continue operating in very severe storms, storms that would automatically stop production on any other type of derrick.
It was also virtually immune to the effects of an under-sea earthquake.
It was also mobile. It had only to up anchors to move to potentially more productive areas.
And compared to standard oil rigs its cost of establishing position in any given spot was so negligible as to be worth no more than a passing mention.
The name of the TLP was the Seawitch.
In certain places and among certain people, the Seawitch was a very bad name indeed. But, overwhelmingly, their venom was reserved for a certain Lord Worth, a multi – some said bulti – millionaire, chairman and sole owner of Worth Hudson Oil Company and, incidentally, owner of the Seawitch. When his name was mentioned by any of the ten men present at that shoreside house on Lake Tahoe, it was in tones of less than hushed reverence.
Their meeting was announced in neither the national nor local press. This was due to two factors. The delegates arrived and departed either singly or in couples and among the heterogeneous summer population of Lake Tahoe such comings and goings went unremarked or were ignored. More importantly, the delegates to the meeting were understandably reluctant that their assembly become common knowledge. The day was Friday 13th, a date that boded no good for someone.
There were nine delegates present, plus their host. Four of them were American, but only two of these mattered – Corral, who represented the oil and mineral leases in the Florida area, and Benson, who represented the rigs off Southern California.
Of the other six, again only two mattered. One was Patinos of Venezuela; the other was Borosoff of Russia: his interest in American oil supplies could only be regarded as minimal. It was widely assumed amongst the others that his main interest in attending the meeting was to stir up as much trouble as possible, an assumption that was probably correct.
All ten were, in various degrees, suppliers of oil to the United States and had the one common interest: to see that the price of those supplies did not drop. The last thing they all wanted to see was an oil value depreciation.
Benson, whose holiday home this was and who was nominally hosting the meeting, opened the discussion.
‘Gentlemen, does anyone have any strong objections if I bring a third party – that is, a man who represents neither ourselves nor Lord Worth – into this meeting?’
Practically everyone had, and there were some moments of bedlamic confusion: they had not only objections but very strong ones at that.
Borosoff, the Russian, said: ‘No. It is too dangerous.’ He glanced around the group with calculated suspiciousness. ‘There are already too many of us privy to these discussions.’
Benson, who had not become head of one of Europe’s biggest oil companies, a British-based one, just because someone had handed him the job as a birthday present, could be disconcertingly blunt.
‘You, Borosoff, are the one with the slenderest claims to be present at this meeting. You might well bear that in mind. Name your suspect.’ Borosoff remained silent. ‘Bear in mind, gentlemen, the objective of this meeting – to maintain, at least, the present oil price levels. The OPEC is now actively considering hiking all oil prices. That doesn’t hurt us much here in the US – we’ll just hike our own prices and pass them on to the public.’
Patinos said: ‘You’re every bit as unscrupulous and ruthless as you claim us to be.’
’Realism is not the same as ruthlessness. Nobody’s going to hike anything while Worth Hudson is around. They are already undercutting us, the majors. A slight pinch, but we feel it. If we raise our prices more and theirs remain steady, the slight pinch is going to increase. And if they get some more TLPs into operation then the pinch will be beginning to hurt. It will also hurt the OPEC, for the demand for your products will undoubtedly fall off.
’We all subscribe to the gentlemen’s agreement among major oil companies that they will not prospect for oil in international waters, that is to say outside their own legally and internationally recognized territorial limits. Without observance of this agreement, the possibilities of legal, diplomatic, political and international strife, ranging from scenes of political violence to outright armed confrontation, are only too real. Let us suppose that Nation A – as some countries have already done – claims all rights for all waters a hundred miles offshore from its coasts. Let us further suppose that Nation B comes along and starts drilling thirty miles outside those limits. Then, horror of horrors, let us suppose that Nation A makes a unilateral decision to extend its offshore limits to a hundred and fifty miles – and don’t forget that Peru has claimed two hundred miles as its limits: the subsequent possibilities are too awesome to contemplate.
’Alas, not all are gentlemen. The chairman of the Worth Hudson Oil Company, Lord Worth, and his entire pestiferous board of directors, would have been the first vehemently to deny any suggestion that they were gentlemen, a fact held in almost universal acceptance by their competitors in oil. They would also equally vehemently have denied that they were criminals, a fact that may or may not have been true, but most certainly is not true now.
’He has, in short, committed what should be two indictable offences. “Should,” I say. The first is unprovable, the second, although an offence in moral terms, is not, as yet, strictly illegal.
‘The facts of the first – and what I consider much the minor offence – concerns the building of Lord Worth’s TLP in Hudson. It is no secret in the industry that the plans for those were stolen – those for the platform from the Mobil Oil Company, those for the legs and anchoring systems from the Chevron Oilfield Research Company. But, as I say, unprovable. It is commonplace for new inventions and developments to occur at two or more places simultaneously, and he can always claim that his design team, working in secret, beat the others to the gun.’
In saying which Benson was perfectly correct. In the design of the Seawitch Lord Worth had adopted short-cuts which the narrow-minded could have regarded as unscrupulous if not illegal. Like all oil companies, Worth Hudson had its own design team. As they were all cronies of Lord Worth and were employed for purely tax-deductible purposes, their combined talents would have been incapable of designing a rowing boat.
This didn’t worry Lord Worth. He didn’t need a design team. He was a vastly wealthy man, had powerful friends – none of them, needless to say, among the oil companies – and was a master of industrial espionage. With the resources at his disposal he found little trouble in obtaining those two secret advance plans, which he passed on to a firm of highly competent marine designers, whose exorbitant fees were matched only by their extreme discretion. The designers found little difficulty in marrying the two sets of plans, adding just sufficient modifications and improvements to discourage those with a penchant for patent rights litigation.
Benson went on: ‘But what really worries me, and what should worry all you gentlemen here, is Lord Worth’s violation of the tacit agreement never to indulge in drilling in international waters.’ He paused, deliberately for effect, and looked slowly at each of the other nine in turn. ‘I say in all seriousness, gentlemen, that Lord Worth’s foolhardiness and greed may well prove to be the spark that triggers off the ignition of a third world war. Apart from protecting our own interests I maintain that for the good of mankind – and I speak from no motive of spurious self-justification – if the governments of the world do not intervene then the imperative is that we should. As the governments show no signs of intervention, then I suggest that the burden