Big Pushback from Big Oil
The quote of the day comes from Saudi Ambassador Prince Turki Al Faisal at the US-Arab Economic Forum:
"Nobody can be addicted to oxygen or water."
(Also: Shell has begun a 50 city tour to tamp down anger over gas prices.)
posted by mikevotes at
7:15 AM
3 Comments:
This should be fun. Are they going to haul out their books for public inspection? Are they going to hold dances, give out free gas coupons?
I'm sure it will be an education as to why they need to drill in Alaska, or the Gulf, or off shore Calif.
Mabey like Jed Clampet, they'll find oil in my back yard.
Meanwhile, just in time for the 4th of July Holiday weekend, gas has gone to a national average of over $3.00 a gallon.
By
Unknown, at 1:36 PM
This should be fun. Are they going to haul out their books for public inspection? Are they going to hold dances, give out free gas coupons?
I'm sure it will be an education as to why they need to drill in Alaska, or the Gulf, or off shore Calif.
Mabey like Jed Clampet, they'll find oil in my back yard.
Meanwhile, just in time for the 4th of July Holiday weekend, gas has gone to a national average of over $3.00 a gallon.
By
Unknown, at 1:36 PM
Oh, they may well pull out portions of the books. Well, our "gasoline division" is not making unwarranted profits.
The real money is being made in extraction right now. It costs about $20 to pull a barrel of oil from the ground. Oil prices today are around $70. The US uses 20 million bpday. That's $1 Billion in clear profit in the US alone, just from extraction, not refining, distribution, franchise fees or other sales or products, every day.
Mike
By
mikevotes, at 3:02 PM
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