Tuesday, October 25, 2005

Crude Behavior: Pumping Disaster for Profit

The Second Law of Thermodynamics is immutable and universal. There's just no getting around that. So when people are feeling the pinch, don't forget that somebody's doing the pinching.

BP has just reported a 34% rise in quarterly profits at the same time that we're all suffering at the pump and hunkering down for a horrible, cold winter. It goes to show that the fat rises to the top even in lean times. BP Chief Executive Lord Browne was quoted as saying, the "recent hurricanes in the U.S. have impacted our results." You don't say! I wonder how many more disasters they could take.

Thank god the Bush administration pushed through an energy policy chock full of subsidies for the petroleum industry. The policy is designed to translate into lower costs and it's obviously doing its job—for the oil companies. There's nothing like a little price gouging to drive this point home: they have us over a barrel. To quote Johnny Rotten, "Do you ever get the feeling you've been cheated?"
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