"Carey Energy Corporation", with $550 million in assets, was acquired by Charter in 1979 for $4 million is cash, $16 million in Charter convertible preferred stock and a consulting job for Edward M. Carey paying $200,000 per year.Carey Energy's principal assets were a 65% ownership in a Bahamas Refinery and the New England Petroleum Company, a fuel oil distributorship based in Brooklyn which sold the fuel produced by the refinery up and down the Atlantic coast.