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2008-06-26
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Oil Octopus

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Oil Octopus

Comments for: Oil Octopus
Anonymous Report This Comment
Date: June 26, 2008 03:18PM

John D. Rockefeller founded the Standard Oil Co. in 1870 and it became a precursor to Exxon Mobil. Exxon Mobil is the world's largest publicly traded oil company based on market capitalization and is a favorite target of consumer advocate groups and politicians unhappy with record prices for oil and gas and their effect on the environment.


Fifteen descendants of the oil baron are involved in four shareholder resolutions seeking changes at Exxon, including dividing the CEO and chairmanship positions held by Rex Tillerson.

Peter O'Neill, great-great-grandson of Rockefeller, said 66 of the 78 adult Rockefellers currently supported their stance.

Exxon posted the largest ever annual profit by a U.S. company last year and its first-quarter results, scheduled for Thursday morning, are expected to be at or near record levels.

But the Rockefeller's said the company was too focused on short-term windfalls. They said the company's reluctance to invest in alternative energy could result in lost profits down the road.

Neva Rockefeller Goodwin, great granddaughter of John D. Rockefeller and a Tufts University economist, called on Exxon to reconnect with the forward-looking vision of her great grandfather.

"Kerosene was the alternative energy of its day," Goodwin said. "Part of John D. Rockefeller's genius was in recognizing early the need and opportunity for a transition to a better, cheaper and cleaner fuel."

The group, which also seeks to establish a task force to study the consequences of global warning on poor economies, called on Exxon to reduce greenhouse gas emission at its own operations and adopt a renewable energy policy.

Exxon said it supports the Rockefeller's right to use the shareholder proposal process to make the family's views known to other stakeholders.

The company has asked shareholders not to support the proposals and said it believes the most effective leadership structure for the current company is for Tillerson to serve as both chairman and CEO.

[www.latimes.com]

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Sooner or Later they always get their way..... and you suffer from them!
Anonymussolini Report This Comment
Date: June 27, 2008 05:27AM

Tax the everliving dogshit out of them, regulate the speculators and then tax the dogshit out of THEM as well and then sentence them to spend the rest of their lives driving a 1989 Yugo.

If they can't be responsible in earning their fortunes, let 'em spend the rest of their lives being taught some "social" responsibility.

Our Grandparents wouldn't stood for this horseshit and it's a sad commentary on our generations that not only have we lost control of corporate greed we managed to do it while miraculously and simultaneously losing control of governmental greed.

Instant Fascism. Just add Dictator.
jgoins Report This Comment
Date: June 27, 2008 07:45AM

Yeah tax the shit out of them, that'll lower the prices. Guess who will pay those taxes? We will, they wil pass the taxes on to the consumer in the price per gallon. Every time there has been a tax increase the cost of gas increased to cover it, look back in history to see it.
Anonymous Report This Comment
Date: June 27, 2008 10:26AM

So we tax the shit out of anybody that's making money???
I think I'd rather buy Exxon stock...drinking
smiley
FrostedApe Report This Comment
Date: June 27, 2008 11:13AM

I have to drive a pickup for work, and it hurts to fill it up. Exxon made $10.9 Billion in the first quarter of this year, but it was on $116 Billion in income. That comes out to 9.3% profit, and that's not excessive by any reasonable standard. Everyone's looking for someone to blame, but blaming Exxon, or "taxing the shit out of them", isn't going to put any more oil in the pipeline, and that's the only thing that will make the price go down.
Anonymous Report This Comment
Date: June 27, 2008 06:40PM

FrostedApe Wrote:
-------------------------------------------------------
> I have to drive a pickup for work, and it hurts to
> fill it up. Exxon made $10.9 Billion in the first
> quarter of this year, but it was on $116 Billion
> in income. That comes out to 9.3% profit, and
> that's not excessive by any reasonable standard.
> Everyone's looking for someone to blame, but
> blaming Exxon, or "taxing the shit out of them",
> isn't going to put any more oil in the pipeline,
> and that's the only thing that will make the price
> go down.


Just don't use as much gas, I know this is "unrealistic"... BUT..... if people would for the most part just "strike" gasoline the prices would plummet, they would have shitloads in stock. Free Market?
jgoins Report This Comment
Date: June 28, 2008 07:22AM

We must conserve. The high gas prices have nothing to do with supply, it all started out with the gas companies just raising prices to see how high they could go before people started cutting back and people haven't cut back yet. Prices are determined by what the market will bear and it seems that the market will bear even higher prices. We are not curtailing our vacations or cutting back on our trips to the store. I know we have to use our cars to go to work but do we have to make 2 or 3 trips to the store because we forgot something the first time? Use your vehicle for transportation to and from work and if you need to go to the store or anywhere else just do it during one of those trips, otherwise leave it in the driveway. Do you really have to go out to eat or visit friends or go the the movies.