Big Oil Profits $23 billion in 3 months
So, the Energy Bill is going to give billions in incentives to the oil industry to help make oil less profitable?
"I have been following this industry for 18 years and I have never seen anything like this," said Oppenheimer & Co. analyst Fadel Gheit. "It's like they're printing money," stated Gheit when responding to questions about the $23 billion the top 4 big oil companies profited the first 3 months of this year. (DetNews)
How can the Energy Bill be seen as anything but a joke?
The world needs alternatives to oil, not richer oil companies. Yet tax credits for hybrid cars, diesel and other clean energy technologies - the only consumer friendly incentives of the President's proposal - won't even be part of the bill if the Senate doesn't add them to the House's version.
"I have been following this industry for 18 years and I have never seen anything like this," said Oppenheimer & Co. analyst Fadel Gheit. "It's like they're printing money," stated Gheit when responding to questions about the $23 billion the top 4 big oil companies profited the first 3 months of this year. (DetNews)
How can the Energy Bill be seen as anything but a joke?
The world needs alternatives to oil, not richer oil companies. Yet tax credits for hybrid cars, diesel and other clean energy technologies - the only consumer friendly incentives of the President's proposal - won't even be part of the bill if the Senate doesn't add them to the House's version.
Labels: clean diesel, Hybrid Vehicles
posted by Dahcredyns at
10:35 AM
2 Comments:
Any natural resource that has been brought to the point where we need it for everyday use, such as, water, oil, gas, and electricity, should be regulated by the government. The incidents with Enron, along with the taped conversations, clearly showed the attitude these large corporations had towards the American people. What I don't understand, though, is the nerve of all these government officials going around, hyping up a story about a fuel crisis causing oil prices to go up, and then hearing how oil companies profited $23 billion in just 3 months. One is only left to deduce that there really was no crisis and there was no increase in the price of oil for the big companies when they purchased it before they distributed it to the people. My guess... these companies saw a rise in sales of hybrid type cars as well as more auto makers jumping on board the "fuel efficient car wagon" and expected more to sell in the future and are trying to cash in while they can before sales begin to go stale. In the end, people do have a choice though. You can buy an SUV or large truck and complain about the gas prices, or you can buy a fuel efficient car and complain that you're being forced to buy certain types of vehicles. I personally don't mind the more fuel efficient hybrids such as the Prius, but I have become accustomed to the faster acceleration I get with my BMW. My last thought goes to this...Isn't it weird that it took about 100 years for gas prices to get to about $1.25 a gallon, but in just the short five years of Bush's presidency, it's already doubled? And a lot of this guy's chums are oil mogules? Coincidence?
"Isn't it weird that it took about 100 years for gas prices to get to about $1.25 a gallon, but in just the short five years of Bush's presidency, it's already doubled? And a lot of this guy's chums are oil mogules? Coincidence?"
I don't know. To me it isn't just Bush, it's the entire investor class of America. Clinton didn't do anything, during great economic times, to protect the world from oil.
Fuel efficiency should have been addressed decades ago. Yes the right is invested in oil, but so to is the left via the Unions. It isn't just the UAW either since many other unions, such as the teacher's unions, have lots of money in Ford and GM stock - as well as profitable oil.
The future of America is being shorted for profit. Look at the Roll Call for the Fuel Efficiency vote. A unified Democratic front could have made fuel efficiency happen, but it is all just an incumbent's political game.
Hey, I understand about your BMW, but hybrids have sport's car potential. As batteries become more efficient hybrid sports cars won't only blow your doors off, they'll sip gas as well!
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