Edward Michael Carey (October 12, 1916 – May 12, 2002) was an American oil industry executive who served as president of Carey Energy Corporation and helped finance the political ambitions of his brother, Hugh Carey, who served as the Democratic Governor of New York from 1975 to 1982. Early life Carey was born in Brooklyn, New York on October 12, 1916. He was one of six sons born to Margaret (née Collins) Carey, a former secretary to journalist Nellie Bly, and Dennis Joseph Carey Sr. Among his siblings were brothers Dennis J. Carey Jr. (president of the family firm), Hugh L. Carey (a former U.S. Representative who served as Governor of New York from 1975 to 1982), John R. Carey, Martin T. Carey, and George G. Carey. His youngest brother, George, a securities analyst, was killed in a plane crash in 1959. He was a graduate of St. Augustine's School in the Bronx and attended Manhattan College and St. John's University. Career In the 1930s, together with his parents, he founded Peerless Oil Company (later known as Peerless Petrochemicals), the petroleum transport business. In the early 1940s, Carey formed the New England Petroleum Corporation, based in Brooklyn, which became one of the nation's largest "privately owned petroleum refining and marketing companies." The company specialized in supplying petroleum products to electrical utilities on the East Coast, and had interests in oil exploration and production in the Persian Gulf, North Africa, and the North Sea. In 1968, Carey teamed up with Standard Oil of California (today known as the Chevron Corporation) to set up the Bahamas Oil Refining Company, of which Carey was chairman, to establish and run a $60 million refinery in the Bahamas to process Standard Oil's sweet crude oil from Libya. Carey's New England Petroleum Corp. then sold the oil to utilities in the Northeastern United States, which had been under pressure to reduce pollution by burning cleaner fuels. The Bahamas venture, headquartered in Freeport, was largely financed by Standard Oil, ran into difficulties after the 1973 oil crisis when Libya also nationalized its foreign-held oil into the National Oil Corporation. After supplies to the refinery dwindled, Standard Oil and Carey fell into a series of disputes which were further agitated by Federal regulations put in place to deal because of oil prices rising worldwide. By the end of 1978, the plant was in receivership, $300 million in debt