"Does anyone here really trust the oil companies to give you the savings, when they could just pocket the money themselves? There's not an expert out there that believes that this is going to work. There's not an editorial out there that has said this is actually the answer to high gas prices. In fact my understanding is today, Senator Clinton had to send out a surrogate to speak on behalf of this plan, and all she could find was, get this, a lobbyist for Shell Oil to explain how this is going to be good for consumers. It's a 'shell game,' literally."
Rebels who have stepped up attacks on Nigeria's oil industry in the last month said on Sunday they were considering a ceasefire appeal by U.S. presidential hopeful Barack Obama.
What a concept! That you can actually start acting to solve some of the world's problems before you get elected. Instead of a gas tax holiday, how about a cease-fire in the oil wars?
So the Chinese have been eating our lunch in many sectors, and since 2003 or so, they have been drinking ‘our’ oil, too. Thanks, Bushie! You know I say ‘our’ only alliteratively, though sadly, we have always acted like it is ‘ours’ literally. Yeah, yeah, call me one of those ‘hate America, firsters,’ Pat Buchanan. How ‘bout ‘hate American stupidity, hypocrisy firster’? That would be more accurate.
My stumbling upon an article today in an Egyptian paper was an interesting contrast to the Charlie Rose interview I watched last night with buffoon, President of Shell Oil, USA, John Hofmeister , I hope you’re reading the following, Mr. Hofmeister.
Royal Dutch Shell’s announcement that its annual profits last year clocked in at $27.6 billion has kindled some grumbling in Great Britain for a windfall profits tax. The profits amount to slightly more than the total gross domestic product of Lebanon (or Wyoming).
Russell Hotten reports for the Telegraph in Britain:
The company's chief executive, Jeroen van der Veer, said the figures were "satisfactory", but the Unite union and the AA motoring organisation said the government should skim off some of the oil giant's profits.
Unite joint general secretary Tony Woodley called the profits "obscene", adding: "Greedy oil companies should be asked to contribute for the common good." The AA said some of the windfall profits should be used to improve conditions for the motorist. ...
The chief executive said big profits were needed to match big investment plans. "If you get additional taxation, in the end it means you can invest less. The money has to come from somewhere and over time it will impact on our production.
I think that you should not only look at the profits size, but at the size of the companies and the huge investment tasks we have to do for the future of our companies," he said.
Exxon Mobil, the world’s largest publicly traded company, will announce its annual profits from 2007 in a few hours. In 2006, its profits were $39.5 billion, about the gross domestic product of Ecuador (or Pennsylvania).
Days since "Mission Accomplished": 1736
Days until Mister Accomplished returns to the private sector: 353
Yet again, Shell's CEO, Jeroen van der Veer, has put himself out in public speaking truth that merits attention. Last year, van der Veer made the case for serious energy efficiency as part of the energy path forward:
More than half the energy we generate every day is wasted.
What's the point of producing even more energy if we continue to waste most of it? Instead, we should aim to become twice as efficient in our use of energy by the middle of the next century. That is entirely feasible, provided that the will is there.
speaking truth that merits attention. Last year, van der Veer made the case for serious energy efficiency as part of the energy path forward:
