Archive for the ‘Oil’ Category

Quick Hit: “Oil Slides While Executives Whine”

The price of oil fell by over $5.00 a barrel yesterday after EIA report was released.

Speculators were running for the exits yesterday as demand for their pumped-up product continues to fall.

Oil Executives of the big five oil companies, Exxon Mobil, Chevron, BP, Conoco, and Royal Dutch Shell, testified before the Senate Finance Committee to justify—after amassing huge quarterly profits—the need of government subsidies of $2.1 billion dollars a year.

In a pre-statement with unAmerican overtones, Conoco-Phillips CEO, James Mulva, called the elimination of the subsidies ‘UnAmerican’ and ‘discriminatory.’

With the oil industry making record profits, why continue subsidies?

Read the rest of this entry »

Tags: , , , , , , , , , , , , , , , , , ,
Posted in Economy, Oil, Uncategorized | Comments Off

“Transitory Oil: Greasing the Slide”

Turmoil in the Mideast is being blamed for high gas prices.

Americans are getting fleeced by big oil companies!

In his first ever press conference Fed Chairman Ben Bernanke referred to the rise in oil and gas prices, as well as food and other commodity prices, as transitory. Though these stifling rises aren’t permanent they are having an immediate impact on those that can least afford them. They continue to erode the middle-class.

Transitory or not, big oil companies are making a killing on the high prices.

Exxon/Mobil reported record quarterly earnings, $10.65 billion, for the first quarter of 2011. That’s a 69% improvement over the same quarter last year. They spend millions of dollars in television and radio ads telling us how great they are. How much they’re doing for our planet. How much they’re improving our lives.

But are they really improving our lives?

Read the rest of this entry »

Tags: , , , , , , , , , , , , ,
Posted in Economy, Oil | Comments Off

“The Psychology of $4.00 a Gallon”

Oil companies are playing games with our heads and our wallets!

Disruption of oil production in Libya, the turmoil in Bahrain, and potential of unrest in Saudi Arabia are being blamed for the sudden rise in the price of oil and gasoline.

The American people are being lied to by Big Oil Companies and the people have little recourse.

Republican House members voted to continue the Big Oil subsidies despite record quarterly profits last quarter and huge profits in previous quarters.

That’s taxpayer money being given to private companies that are screwing the same taxpayers with a manufactured oil crisis.

Every single Republican Representative voted for big oil and against the American people. Every damn one of these sleazeballs!

But it’s the application of oil psychology that’s killing the American consumer.

Read the rest of this entry »

Tags: , , , , , , , , , , , ,
Posted in Economy, Oil | Comments Off

“Oil: Mucking Up the Recovery”

Posted on The Huffington Post on Monday, February 21. You can read it on HuffPost by clicking on the link to the article.

*********************

Our dependence on oil leaves us vulnerable to the disruptions in the middle-east!

As Egypt erupted in demonstrations against oppression, unemployment, and wealth disparity, virtually shutting down their economy, oil prices began to rise—speculation that the middle-east could explode into chaos disrupting the flow of oil.

NYMEX passed $90 a barrel and Brent Crude crossed the $100 mark.

As the turmoil grew all eyes were on the Suez Canal, concerned about what closure would do to the transport and cost of oil. The long trips around the Cape of No Hope would be costly moving the price of oil and gasoline to untenable heights.

Speculators were poised to take advantage of the chaos hoping to line their greedy pockets with green.

Where should the price of a barrel of oil and a gallon of gas be?

Read the rest of this entry »

Tags: , , , , , , , , , , , ,
Posted in Economy, HuffPost Articles, Oil, Opinion | Comments Off