I guess profits in the billions every quarter for the last couple of years just isn’t helping Exxon stay afloat, so the Supreme Court just declared that the $2.5 billion in punitive damages owed for the Valdez oil spill in Alaska is just too much and it should be reduced to $507 million. This [...]
Sure, it’s a public company and they deserve to make a profit – I don’t begrudge the oil companies that at all, really. I understand it. What I don’t understand is how they can flaunt their billion dollar profits while saying they cannot do anything about the price of oil. Well actually, I do [...]
So you think that $50 tank of gas is bad…wait until you then drive to the store to find everything in it costing 20% more! Unfortunately we have built our society around the idea of cheap and plentiful oil, and it looks like that era is coming to an end. In the span [...]
So says an analyst at Goldman Sachs who is known to be right about such things. Arjun N. Murti “argues that the world’s seemingly unquenchable thirst for oil means prices will keep rising from here and stay above $100 into 2011.” However, Mr. Murti, like myself, thinks this is a good thing as it [...]
