Thursday, April 03, 2008

Oil Chiefs: 'Prices Not Our Fault'

"On April Fool's Day, the biggest joke of all is being played on American families by Big Oil," Rep. Edward Markey, D-Mass., said, aiming his remarks at the five executives sitting shoulder-to-shoulder in a congressional hearing room.

Rest of this story.

NVDL: The God of Blame is going to do a lot of swooping (like Vlad the Vulture). Meanwhile, whatever your personal preferences, what else can the likes of Eskom do but pass on the premiums of coal costs to their consumers? It is a world wide trend (more expensive resources).

And how do the oil companies respond to accusations of them being unduly greedy? It is actually a very practical industry, and the answer is similarly practical:

Oil Companies: "We depend on high earnings during the up cycle to sustain ... investment over the long term, including the down cycles..."

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