Wednesday, August 09, 2006

BP and ARCO: Shut the flow of oil, increase the flow of CASH


Investors sue BP execs over Alaska shutdown

What awesome timing.

I suggest you get on over and read Greg Palast's new article about the further raping of the consumer in the pipeline screw up of theirs.

BP could have fixed the pipeline problem this past winter, after their latest corrosion-caused oil spill. But then ARCO would have lost the summertime supply-squeeze windfall.

Enron Corporation was infamous for deliberately timing repairs to maximize profit. Would BP also manipulate the market in such a crude manner? Some US prosecutors think they did so in the US propane market. The Commodity Futures Trading Commission (CFTC) just six weeks ago charged the company with approving an Enron-style scheme to crank up the price of propane sold in poor rural communities in the US. One former BP exec has pleaded guilty.

The price of crude jumped $2.22 a barrel on the shutdown news to over $76. How lucky for BP which sells four million barrels of oil a day. Had BP completed its inspection and repairs a couple years back — say, after Dan Lawn’s tenth warning — the oil market would have hardly noticed.

But $2 a barrel is just the beginning of BP’s shut-down bonus. The Alaskan oil was destined for the California market which now faces a supply crisis at the very height of the summer travel season. The big winner is ARCO petroleum, the largest retailer in the Golden State. ARCO is a 100%-owned subsidiary of … British Petroleum.

Is there anything that these companies WON'T do to fuck over working people and the American public in general?
Now, I don't shop at ARCO anyhow, and certainly won't start now.
Maybe you'll choose to not shop there as well. Not that we have much of a choice anymore.
All I can say is search out the CITGO gas near you. At least it's not BP, EXXON or middle eastern oil..


Diane said...

They will also try to spin this to justify drilling in ANWR

Mike V. said...

Oh, yes.

Read the article, it's quite illuminating.

Landcomm1 said...

We don't use BP OR ARCO. What a bunch of thieves. Worse, Bush and his posse of assbag supporters continue to support big businesses like this through tax breaks and trade laws favorable to scewing middle America!

Senor said...

LMAO. So, there is no problem with the pipeline, this is just a plot to raise oil prices?

Do you moonbats have any idea how ridiculous you sound. Each day you become a little more unhinged.

It must suck to live in a world where everything is about 'black helicopters' and plots by the GOP.


Landcomm1 said...

Senor, of course there is something wrong with the pipeline you bufoon! Why else would the Justice Department be considering charges against these assholes? They have known about the problem for several years yet, because precious profit was all important, they delayed maintenance until now. Nice job. Slick. Excellent! And we continue to provide favorable trade opportunities and excellent tax incentives. It must suck to live in a world, increasingly ruined by neocons and be convinced they are your savior!

Mike V. said...

you fucking dumbass, why didn't you just read the article instead of posting off the top of your head?? or do you have some sort of reading comprehension problem.

it cleary states they they knew about it but did nothing.

how the fuck did you get to be so stupid?


Landcomm1 said...

This person is a nut-bag, Mike.

blog Portland said...

I know I'm a model citizen, but I'm slightly ashamed that it means I've become desensitized to this kind of thing. Where is my voice!?

Pikkel Weezel said...

Hey dumbass, you obviously have never owned/run a business. Incase you didn't know, they are in business to make money. If you can do a repair nowand lose a bunch of money, or do it later and lose less money, you do it later, DUH.

Mike V. said...

Another person that didn't read the article.

Thanks for playing, though.