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Sunday, May 01, 2005

Big Oil Profits $23 billion in 3 months

So, the Energy Bill is going to give billions in incentives to the oil industry to help make oil less profitable?

"I have been following this industry for 18 years and I have never seen anything like this," said Oppenheimer & Co. analyst Fadel Gheit. "It's like they're printing money," stated Gheit when responding to questions about the $23 billion the top 4 big oil companies profited the first 3 months of this year. (DetNews)

How can the Energy Bill be seen as anything but a joke?

The world needs alternatives to oil, not richer oil companies. Yet tax credits for hybrid cars, diesel and other clean energy technologies - the only consumer friendly incentives of the President's proposal - won't even be part of the bill if the Senate doesn't add them to the House's version.

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