In August 1980, I was named general manager of the newly created Westinghouse Synthetic Fuels Division (SFD). The division’s nucleus was a department engaged in coal gasification research and development and supported, in part, by the U.S. Department of Energy. The technology was highly regarded, and the outlook for synthetic fuels was promising. Oil prices were continuing to rise; worldwide oil shortages were forecast, as were crude oil prices of $100 per barrel; and the Carter administration had just created the Synthetic Fuels Corporation to stimulate the production of synfuels from domestic resources and reduce U.S. dependence on imported oil.
A version of this article appeared in the March 1986 issue of Harvard Business Review.
