LOGO: Truthdig: Drilling Beneath the Headlines. A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman. Winner 2013 Webby Awards for Best Political Website
May 23, 2013

 Choose a size
Text Size

Trending:     chris hedges     economy     elizabeth warren     politics     robert scheer
Most Read

A Call to Action

Bizarre, Apparently Jihadist Slaying in London (Video)

Hell on Earth for Greeks

Revenge of the Bear: Russia Strikes Back in Syria

Another Memorial Day in This Endless War

Most Comments
Most Emailed

Reports

Ear to the Ground

A/V Booth

Arts & Culture
 * NEW! * A Call to Action
Act of Congress
Daily Rituals

Digs

Truthdig Bazaar
Engaging the Muslim World

Engaging the Muslim World

By Juan Cole
$11.47

more items

 
A/V Booth

The ‘Have-Oils’ and the Have-Nots

Email this item Email    Print this item Print    Share this item... Share

Posted on Aug 2, 2008
MIR oil report
linktv.org

Skyrocketing oil and natural gas prices in the second quarter of this year led ExxonMobil to report the highest profit ever by an American company. Despite falling production and rising operating costs, Exxon brought in $138 billion in revenue and reported an astounding net income of $11.7 billion. Who else is profiting?

Link TV:

Advertisement


New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By yellowbird2525, August 4, 2008 at 9:52 pm Link to this comment

house of saud & bush work together like Corps & Gov; figure out how American car companies KNEW they could offer $2.99 guarenteed for 36 months if you bought a new car; duh; think it’s speculation & all the other BS? think again; when Congress told the car companies they had to make cars with better MPG (democracy is the will of the people with rep’s in Congress to represent THEIR wishes folks) what was said? to the American citizens? you will PAY for this; we are, aren’t we? Listen: we are “told” how China is censoring the protesters etc; the media in America is silent, & the Gov who controls them, refuses to allow the TRUTH to be told: here is how it works out: your deoderants have 1 to 8 known deadly & banned toxins in them; your shampoos including baby is full of formaldehyde & other nasties; so is your carpeting, clothing, & every possible thing you can come into contact with; NOT for preservation; THINK: older items never used; for 1 purpose only to HARM you; causing you to go to doctors who get paid when meet quotas; & pill of the month; here is how it went down with Add, Ahd; companies go to schools; pay them big bucks to STOP recesses for kids; load food with additives to cause restlessness; allergies; then teachers refer to docs; who subscribe METH under the label riddlin; now, they are off to do statins with babies as young as 1 year old; all condoned & permitted by Gov; now since so many folks are learning of this; they passed a law saying they no longer need to put ingredients on items folks; so Clorox bought Burt bees’ known organic things; & here come the chemicals known to cause the most harm; people sit on multiple chairs folks; to exploit the people to the max; credit cards: go to colleges, paid big $ to “refer” to THEIR card: even putting “school logo” on it; so the students ASSUME this is good; it is for the COMPANIES who are breaking all laws of the USA & it is criminal & condoned by the Cesspool of criminals who political means prostitues who take $ & let anyone do anything as long as it is AGAINST the people of this nation & for the COMPANIES; we the people have been told: there are 2 candidates; 2 parties; choose one; there is “democracy” which means freedom & communism; aren’t you glad we are free? folks: other countries KNOW what is going on MORE than the citizens do! I am just finding out that Pharma’s have 2 lobbyists per Congressmen; think of how many trillions of trillions of trillions of $ have been taken from the people not to even go to how many have died due to this; the FDA is a joke; forever denying Americans the TRUTH! Laws are written for books only; for “looks” to “make” the people THINK they are there; claiming to be a nation of LAW they ignore them, don’t follow laws of Congress, laws of USA, international laws; and LAUGH at us for thinking we can do anything by “emailing them” and making LAWS! and the people have not 1 single person they can go to; not the FBI, Homeland security, no one; now, these scamps have gone to Mexico & bribed them, & Canada & done the same; gone on over to France, Italy, etc; bribing them, putting $ off shore, & guess what! same crap there as is here; THIS is what is nown by “going global”; the tragedy is most citizens in the USA buy into the “democracy” is a wonderful thing; it has degenerated into the most despised & despicable name on the planet folks; we are enslaved now; we do not even have any “rights” or are recognized unless we are a “corporation”, per a land lawyer; this is all a set up for what is going to go down in the USA

Report this

By yellowbird2525, August 4, 2008 at 8:46 pm Link to this comment

I strongly recommend anyone concerned over the USA in any way at all go to http://www.pbs.com and go to Bill Moyers Journal to see the crimes on capital hill; it details the utter greed & corruption of the political parties in the USA; it goes on to talk about islands that the USA own: that Mr. Wang I believe his name was a Chinese tycoon brought Chinese women to that were like indentured servants; lived in slave labor camps; were paid less than minimum wage & their checks were no good; this was on American soil with full consent of the Gov; who claimed “everything” was fine in the camps; you view them there & see what YOU think; it went on for 20 years til finally something was done; see Colombia; Bill C. went there got $800,000 for wifes campaign, suddenly political advisor claiming trade agreement was signed in 2006; bipartisan agreement; expired 1/08 & Congress extended til 9/08; not even loaded in computer 5/1/08 when I went to demonstate as folks trying to get decent wage etc targeted & killed; some folks do not realize this country was set up for taxes to be paid by big business profits; instead they went & bought & paid for Congress; who has taxed & overbilled the citizens for years; giving the people nothing; while they take everything; figure out how they easily cook the books folks; then find out how they deliberately poison you in every possible conceivable way they can so the sister company Pharmas get hundreds of trillions of dollars all with Gov’s full consent & cooperation, then the lawyers keep over 2/3’s of all payouts when big payouts due to illegal drugs; exploitation of people to the nth degree; oh, and if you do have health coverage it STOPS the moment you get ill; per Senator Fed law says companies do not have to pay anything if it effects their profits; oh, and Bush Sr tried to get Nafta passed; & Nau, couldn’t so Clinton did when he was in office; Dems & Reps working together with Corps against the people; of this country & on to globally; so incredibly sad;

Report this

By Vicky Pollack, August 4, 2008 at 5:15 pm Link to this comment
(Unregistered commenter)

The gap between the rich and the poor is getting bigger by the minute. This is an example why everything is going into hell in the entire world.

Report this

By BlueEagle, August 3, 2008 at 9:05 pm Link to this comment

The REAL price of oil is NOT going up. Only the NOMINAL price is going up.

Report this

By yellowbird2525, August 3, 2008 at 1:37 pm Link to this comment

you mentioned our flag/our country: our country developed the aids virus & sent it with polio vaccines to Africa in 1950; our country brought over top Nazi’s after WW11 and set them up handsomely to do 1 thing: study how it was done; over 1/2 of Germany had no clue what was going on with the concentration camps etc; how? EXACTLY what is being done now with censorship of the media; go to democracynow.org and find out how many journalists have been killed, are being killed in Mexico & being detained by “our” country; what is being done with the media is illegal in the laws of the USA but many of what is being done by the lawmakers is illegal in the USA; including the setting of the price of oil deliberately by US Gov, & Corp’s; the price of oil is SET by the US GOV folks: ex: $2.99 gas guarenteed for 36 months if you buy a new USA vehicle; couldn’t do it without the price being set; Pres of Shell oil company told Charley Rose the price is what it is to make some people wealthy & of course THIS “country” is not going to change it’s ways; it is trying hard to take it globally; & when failing in countries like India they say “we have done it to the Americans for YEARS” and got away with it; WE think “China” imports poisoned items; the American citizens folks are POISONED agressively in every possible conceivable way there is folks: with Gov’s full cooperation & consent to do so: for 1 purpose: more $ for the Pharma’s: our deoderants contain at least 1 & up to 8 known & supposedly “banned” toxins KNOWN to cause harm; our shampoos, soaps, laundry detergents, fabric softeners, even baby shampoos contain FORMALDEHYDE folks: which is used in most all carpeting, furniture, clothing, shoes, purses, everything you buy: cuz it causes the most harmful damage it can folks: SALT: let’s take the IODIZED SALT (like MOrton’s) we were all trained in schools etc THAT HAS TO BE TAKEN to “prevent” goiters: all natural ingredients are removed; it is bleach, a solution is put in that turns to poison in the human body 15 minutes after eaten: causing all kinds of health problems, high blood pressure, etc: this is only 1 FRAUD cause to HARM THE PEOPLE OF THIS COUNTRY! MEDIA is not allowed to be given to TRUTH because they want to perpetrate the LIES to get the $; average cost of meds is 600,000 times it’s cost to citizens: (price gouging laws just for show folks; not to apply to THEM!) It is a round robin with the “people” of this country paying the price; we are KNOWN to be victimized, & exploited at every possible conceivable area there is folks: SLAVES to Corps’; & countries LABEL & PROTEST in millions to prevent stuff from USA coming in; WAKE UP AMERICANS!

Report this
Purple Girl's avatar

By Purple Girl, August 3, 2008 at 7:16 am Link to this comment

Having worked in the Horse industry- I’ve seen this type of business practice first hand, but not on such a massive scale. Get the most desperate laborers to be willing to accept any conditions. Then as a secondary benefit- by flooding the market with these victimized indentured slaves, you under cut the locals so they too begin to become desperate just to have a job in this High labor Supply market. Human Labor is a Commodity- Those who have to pay for it are driving down the price with this tactic and increasing the Profit margin. This is Not Jus ta Trend it is a global business Stratedgy and Mission Statement!
Now considering how many years we have been unwittingly attached to the Wealthy Oil countries - How long do you think these type of practices have been going on..How pissed do you think their popualations are getting for these Crimes against Humanity? Think maybe they might decide the only way to get the worlds attention is to take hostages, Highjack planes, fly them in to building which house and aid these Oil Co’s and their foreign Sponsors with allies in the militray, Exec Office?
No doubt in my mind WHY were suffered the numerous attacks over the last 30+ yrs. And Who is responsible for Putting Our citizens in harms way- for greed and power.History is Hindsight, History records the process of events, History reveals the intentions, History Tells the truth (Not propaganda- HISTORY).The Anthrax ‘story’ is just another peice to the puzzle.Oil was the goal when their boot in the Door in Afghanistan, Iraq was not only an Oil ‘gold mine’, but provided entrance into the Rest of the Oil Region- Iran. Iraq is the perfect launch off country. We know of intentions to invade Iraq prior to 9/11.Was Iran discussed then too, for what ends was this Stratedgy Brain storming Session, How far did it go- what were the predetermined Goals?At the very least these conditions, treatment and wage holding sets up a very dangerous environment to US because these Oil Incs are treating those in this ‘hot bed of extremism’ in such a way that could cause retribution upon our Country- Who’s Flag flies above these company HQ’s in the Region?
If they fly our Flag, they are taking on a responsiblity To US- to be representatives of Our country, and they should be held to OUR Standards, laws and ethics.Otherwise they are Dishonoring our Country, using our flag as a facade and are placing our Citizens in more Grave danger!

Report this

By VietnamVet, August 3, 2008 at 4:46 am Link to this comment

It would be insteresting to know how many Exxon shares Bush and Cheney have in their “hidden” trusts? I would wager they are in the thousands, given that both are oil barons themselves.

Report this

By nrobi, August 3, 2008 at 3:11 am Link to this comment

In the world today, OIL is King. Just as in the time before the United States Civil War, Cotton was King.
Looking at the world markets today, we see parallels between the two commodities.
Yet the difference today is the fact, that Oil is a global commodity, and there are no doubts that whomever owns the oil fields and the producing capacity are the people for whom nothing is unavailable and all the world pays them for the privilege of using their product.
It is without doubt the worlds worst economic disaster that the hands of the people are tied to a limited few people who have control of the world’s most necessary commodity. For these people there is no such thing as democracy or the rights of the people to control their own lives.
Everything now is symbolism over substance, nothing matters except the appearance of caring for the least fortunate and the poorest of the world.
It is nothing for the wealthiest of the wealthiest to spend millions of dollars on toys that are meaningless, yet the majority of the people of the world are now starving and destitute because of the companies that produce oil and the necessary by-products that sustain life. These companies withhold the oil and gasoline, natural gas and other products to artificially inflate the prices so that they can reap a harvest of petro-dollars that to the average person is unimaginable.
Should the workers of the world unite, and stand up to the petro-companies they would be left without the labour necessary to complete the cycle of ripping off the worker and their families.
There is not one reasonable explanation in the world why oil is nearly as expensive as it is, in America we have untold thousands upon thousands of oil wells capped and not running because of the avarice of the oil companies. Nothing will compare to the hell that the executives of the oil companies will experience when the meet their makers.
We are our brother’s keepers! Yet we have failed them miserably in the pursuit of meaningless and foolish things that cannot replace the fact that we have abrogated the responsibility to those less fortunate.
But the oil companies have a stranglehold on the wealth of America, they pay hardly any taxes and take a commodity that actually belongs to the American people and ship it oversea, to reap the benefits of their own avarice. I find it abominable that these companies and a limited amount of families are reaping profits by the billions and they could care less if the economy tanks and people are forced to live on the streets. But one thing remains a fact of life, should the economy keep going the way it is, there we soon be no one to buy the products that are created overseas in China, oil will drop precipitously in price and there will be no turning beck from alternative means of producing the energy needed to run this country and others that are in the stranglehold of oil companies.

Report this

By cyrena, August 3, 2008 at 12:36 am Link to this comment

Re:By randyha, August 2 at 1:27 pm #

“Obviously the Bush Administration is aware of the abuse committed by these oil rich countries and companies against migrant workers but they turn a blind eye and instead lecture countries that are not friendly to the U.S. about human rights.God forbids should we criticize the Saudis…after all their Bush’s business partners.”

~~~

Randyha,

Not only is the Thug admin aware of this, but have been actively engaging in the same practice themselves, for really a long time.

I’ve posted a link to an excellent documentary, “Ships of Shame”, below.  Shows how the US (and other Western Nations) have used South Asian labor to break up old war ships and similar sized ships that have outlived their usefulness, and should be scraped of destroyed of entirely. Instead, and in order to eek out the last few dollars of it they can..they send these huge monstrosities to the mostly Indian coasts were they pay poor laborers there pennies a day to work in these same conditions, breaking down these old ships that are full of asbestos and other dangerous components.

It’s totally criminal, and yet they’ve engaged in this for years, even before this thug regime came along.

http://www.lib.unc.edu/house/mrc/films/full.php?film_id=8028 -

Meantime, I noted that Exxon’s billions worth of profit were slightly decreased in the ‘net’ take, because they’re still paying off their judgment on the Valdez disaster. HOWEVER, just a few months ago, a federal judge DRASTICALLY DECREASED the amount of their original liability for that disaster. In short, gave them a pass on what they were supposed to pay. (I can’t remember all of the details, but their available enough).

So, if your an oil corp making more money than ANY OTHER BUSINESS ON THE GLOBE, you get a pass on paying your debts incurred by the disastrous actions of criminal behavior, even when a judgment has been rendered.

So, Hippy Pam has a point..the rest of us starve, as we continue to be victimized by the same gang who destroy us for a living.

I’ve had the same question in fact, about what they will do when they run out of slaves to do all of this work, and I don’t have the answer. Actually, my original question on that was over 2 decades ago, when I was still officially employed as a corporate slave, and witnessing the beginnings of all of the outsourcing, as well as the ‘multiple tier’ wage plans. In other words, as newer employees joined the work force, they were paid less, and the pay scale, (even after reaching the top after X number of years) would remain at around 33% LESS than the same job had previously paid. Over time, and through attrition, (or mass firings of the longer term “A”-scale employees) the wages for those jobs that have NOT been outsourced, are now closer to 40% less than workers were paid when I was there, and that’s not even adjusting for inflation. If we did that, it would be who knows how much less.

So, back to my original question at the time, “What are they gonna do, when nobody can afford to buy their product any longer.” Well, we’re certainly long beyond that now, and in this case, (the commercial airline industry) they (and their stockholders) are certainly feeling the pain. But, they still have their airplanes full, and the employees earn pennies, and work harder, and the product/service that they sell is now shitty as a result.

But..for now, THEIR crowd still has enough money to keep them in business. I don’t know how much longer that will be the case, but what we KNEW was going to happen, HAS.

Report this

By dmack, August 2, 2008 at 10:55 pm Link to this comment
(Unregistered commenter)

I’m wondering if the crisis is severe enough to allow the Feds and or states to drill, transport, refine and use the fuel to power gov. vehicles ie planes, tanks,trucks and cars. There has to be plenty of drilling equiptment around that was left when the effort failed and the drillers defaulted or skipped out oweing taxes or fees. Let the gov. drill for the People, it’s supposed to belong to us after all. When the gov. stops buying fuel from private suppliers the demand change should bring down the price for the average consumer.

Report this

By GW=MCHammered, August 2, 2008 at 7:42 pm Link to this comment
(Unregistered commenter)

Previous dollar numbers should read ‘billions’ if posted ‘millions’. My apologies.

Report this

By GW=MCHammered, August 2, 2008 at 7:37 pm Link to this comment
(Unregistered commenter)

2007 the federal government spent 5.8 million taxpayer dollars on renewable energy and conservation.

2007 the federal government spent 30 million taxpayer dollars in subsidies to fossil fuel and nuclear industries.

~Public Citizen News

Report this

By hippy pam, August 2, 2008 at 4:23 pm Link to this comment

and-we the people-gotta eat-and to eat we need to work and to work we gotta drive-and to drive to work so we can eat,we gotta buy gas-and the oil/gas is sold to the highest bidder-and “THE BULLSH*T BUNCH” just keeps making MONEY while you and I STARVE-what IS “BULLSH*T” and his crew gonna do WHEN THERE ARE NO PEONS TO SUPPORT THEM???

Report this

By randyha, August 2, 2008 at 2:27 pm Link to this comment

Obviously the Bush Administration is aware of the abuse committed by these oil rich countries and companies against migrant workers but they turn a blind eye and instead lecture countries that are not friendly to the U.S. about human rights.God forbids should we criticize the Saudis…after all their Bush’s business partners.

Report this
Newsletter

sign up to get updates


 
 
 
 
Join the Liberal Blog Advertising Network
 
 
 
 
 
 
 

A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
© 2013 Truthdig, LLC. All rights reserved.