Shell Oil "gaming the system" in California - remember Enron?

phoebe

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Fri May-28-04 05:31 PM
Original message

Shell Oil "gaming the system" in California - remember Enron?

http://www.latimes.com/business/la-fi-golden20may20,0,6601873.column

snip

"Should they have the right to reduce a treasured and valuable refining capacity simply to make more money?" asks Jamie Court, a consumer advocate challenging the shutdown.

Unfortunately, the short answer is that companies often do have the right to make more money, even if it comes at the expense of a greater public good.

In this case, Shell has done itself no favors by failing to own up to this harsh reality. Rather than being candid about its rationale for shutting down the Bakersfield facility, it has trotted out a series of transparent half-truths.

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pinto

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Fri May-28-04 05:37 PM
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1. We are such a big target for gas/oil manipulation....

got screwed in the last finneagle from the firms juggling prices across state lines...it's no where near over.

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NuttyFluffers

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Fri May-28-04 05:43 PM
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2. *sigh* others blame california...

saying it's our fault we didn't make enough refineries. but they don't know that there's an epidemic of refinery shut-downs throughout california lately. heck, two refineries in richmond area (SF bay area) are slated for being closed down. and by whom? the oil company that owns it - not state regulators. and to what benefit? heh... if you got a brain in your head i don't have to answer this. the obvious, evil, greedy answer is the right one.

but guess who'll get blamed? environmentalists and regulation. let's see how stupid people are AGAIN! :)

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jcldragon

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Sun May-30-04 12:28 PM
Response to Reply #2

3. Public Utilities

I say we simply nationalize the oil companies AND their assets, & run them as Public Utilities. Energy supply is so basic to our society, that it should not be in private hands at all.

And yes, I do know that Shell is a Dutch company, that we couldn't legally touch in this case...

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