12.3.07

Energy and money

ExxonMobil's profits rose 75 percent, BP up 34 percent and ConocoPhillips up 89 percent and there are more stories in the past six months, so please when talking of rising oil prices as evidence to the situation in the Middle East, think twice.

If oil companies make much more higher profits and revenues, then it probably means means that they are price gouging.

Chevron, in full page ads, said:

It took us 125 years to use the first trillion barrels of oil. We'll use the next trillion in 30


Now this may be a reason for all that profit, Exxon Mobil reports $9.92 billion in profits, the highest for any corporation profit in a three-month period, Royal Dutch Shell made $9.03 Billion and their sales are around $100 Billion each in Oil and 99.9% of their money is coming from Oil

It will be a crime not ask them why don't they invest in cleaner fuels or renewable energy. It is a crime not invest more money in energy diversification and less in lobbying for drilling in the arctic.

Biomass in California alone, if used correctly can power 2 million homes, I'm pretty sure powering many more millions of home worldwide is a good way to promote renewable energy. It's carbon emissions are what trouble me, onlt biomass from crops that will be replanted should be used.

Let us wise up and not overlook solar, geothermal, hydro and wind energy of which there is an abundance and would need huge investments from energy conglomerates. Both our and their livelihoods depend on it. I personally predict a good future for shell. we'll see!
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