I've just about enough from big oil. This morning on Good Morning America I caught an interesting interview with Shell Oil's president Marvin Odum, defending his company's multibillion dollar profits. He stated that there was a significant increase in consumer demand and that may have been a factor in rising gas prices. Well, Mr. Odum, you're full of it, and I don't know why you and other big oil executives keep pushing this platform of high demand, and yet you insist on advising consumers to keep their energy costs down. If consumer demand is so high, and big oil is making tons of money in this so called "high demand" market, then why are they curbing potential profits, which they say are being put into investments for new energy projects. Odum stated that his company spends more on these investments than they make in profit, so why in the world would big oil hamper making more of a profit, by saying something like this? That doesn't make any sense.
Anyhow, to get to a stronger point in my argument, Mr. Odum is a liar, or he does not know the facts behind a 5 year decrease in energy resource demand since the U.S. invasion of Iraq. I'm calling out all you big oil companies on this point, because to say that you've been forced to increase prices because of a higher demand is an outright farce. Don't lie to us!
In this video, Richard Vague addresses the New America Foundation on how the Iraq War is costing Americans more at the pump:
...and based on this video, he states that consumption of oil in 2007 is down 4%, and since the beginning of Iraq War in 2003, demand has in fact decelerated. So demand has not gone up, thus there is no justification in the increase of the price of oil.
Big Oil has a very long history. research the turkish petroleum company set up before ww i to take the oil in the ottoman empire --even before the war had begun or been lost by the ottoman turks-germany.
ReplyDeleteanyway the same companies now are negogiating with iraq to take the crude again.
and its the same cartel that operates the pipeline in former soviet georgia.
shell is a private company by the way. No one really knows who owns it. But its defintely not any more "american" than bp,eni, or total.
foreign economic interests in charge of us foreign policy. maybe thats why so many in this administration have been knighted by the queen? :)