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This has left the big independent oil companies scratching around for alternatives that play to their technological prowess and their ability to secure long-term investment.
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According to an industry source, its predilection has always been to remain independent though it will satisfy investors by exploring alternatives.
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The unionized workers on Mr. Butler's committee not to mention bondholders and suppliers wanted alternatives to American's plan to stay independent so they could realize the best payout, he explained.
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