BP and Shell caused almost $50 billion of environmental and social damage last year – double the amount of profits they made in the past 12 months – according to a report by WWF and the New Economics Foundation. The two groups are urging the British Government to slap an “oil legacy fund” on the … Read More
Big Oil Profits
The Great Oil Shale Rip-Off
Hidden incentives to oil companies to develop oil shale reserves in the US could amount to billions of dollars, according to a report in the LA Times. According to the paper: “Tucked into a massive energy bill that would open the outer continental shelf to oil drilling are provisions that would slash future royalties owed … Read More
Follow The Money
Someone just forwarded a great newswire by Dow Jones that ran late last month, examining the issue of tax havens. For example did you know that the registered offices of the Shell Qatar multibillion-dollar gas-to-liquids venture is not in Qatar at all, but Bermuda?
Are You Loyal to Big Oil?
I pledge allegiance to Big Oil, run by the richest CEOs in America, and to the gas pump from which it flows: one profit margin, unchecked by Congress, with higher gas prices for all! Loyal to Big Oil—a partnership between Billionaires for Bush and Oil Change International’s Separation of Oil and State campaign—is a strategic … Read More
Are you Loyal to Big Oil?
Loyal to Big Oil is a new consortium of oil barons, energy-company CEOs, giddy traders on the energy futures market and the faithful representatives in Congress who deliver the subsidies and tax breaks we love at the expense of consumers and taxpayers who can’t afford lobbyists of their own. Over the weekend, Loyalists in Nevada … Read More
US Regulator Clears ex-Shell Boss
After a two-year investigation, the US Securities and Exchange Commission has announced it will not be taking any action against former Shell boss Sir Philip Watts. The ex-Shell Chairman was being investigated over the oil and gas reserves overbooking crisis that hit Shell in 2004, when Shell overstated its proven oil and gas reserves by … Read More
Big Oil Rips You Off. Need more proof?
Here are two great recent reports detailing EXACTLY how oil companies rip us all off, from Consumers Union. Although its been woefully under-reported in both the traditional and alternative media, the conclusions of CU’s May report (“Debunking Oil Industry Myths and Deception: The $100 Billion Consumer Rip-Off”) are strong and clear, and the research is … Read More
Biggest Polluter
Sunday’s local newspaper reported that gasoline sales in Vermont were 13 percent below prediction in February of this year and almost 15 percent low for May. I have no theories on the May swoon, aside from the toll continued high prices are having on us all, but I’m reasonably sure the February dip was due … Read More
“Crude Awakening”
In the latest issue of Ms. Magazine, Martha Burk’s “Crude Awakening” draws fresh connections between the United States’ oil interests and its willingness to overlook gross violations of women’s rights, especially in oil-rich nations. Writes Burk: “Whether supporting gender apartheid abroad, or sacrificing feeding programs for U.S. women and children so that ExxonMobil can get … Read More
Stop Complaining About Gas Prices
Stop complaining about high gas prices – you have it cheap – that is the message from the oil barons to the American public. In parts of Europe, gas prices are $5 per gallon to $7 per gallon, the chairman of ConocoPhillips, James Mulva, argued when he appeared on NBC’s Meet the Press. Mulva, who … Read More