For ExxonMobil and Shell: Oil is King. Long Live Oil.
GM posts a 15.5 billion dollar loss, while ExxonMobil, and Shell clean up.
I’m not surprised. All promulgate the same position: Oil is King.
Only for GM, oil loyalty spells disaster. Not thinking about fuel efficient and alternative energy vehicles will sink them. In Darwinian terms: another dinosaur gone extinct.
ExxonMobil and Shell, as much as they’re flying high now, will be facing the same extinction in ten years, when alternative energies start to take off. Why aren’t these companies jumping in and developing alternative energies now? Which members of the board are running away with the profits, with no thought of the future?
Other oil profiteers are not so short-sighted.
The United Arab Emirates, richest oil producers in the world, are footing the bill for the first zero emissions city at Abu Dhabi.
T. Boon Pickens, CEO of BP, and Texas oil billionaire,is the first oil mogul to speak up, supporting wind power development.
From legendary oilman and billionaire T. Boone Pickens:
August 1st, 2008
“America is in a hole and it’s getting deeper every day. We import 70% of our oil at a cost of $700 billion a year - four times the annual cost of the Iraq war.”
“I’ve been an oil man all my life, but this is one emergency we can’t drill our way out of. But if we create a new renewable energy network, we can break our addiction to foreign oil.”
And from Green Chip Stocks:
“The “Oracle of Oil” [Pickens] has unleashed a $58 million public relations blitz focused on persuading Americans to reduce their dependence on foreign oil by turning increasingly to natural gas and wind.
Called The Pickens Plan, the project calls for an estimated $1 trillion government investment… to displace electricity currently produced with natural gas with clean wind power.
Meantime, he’s pouring billions of his own money into each of those profitable sectors. In fact, he’s spending $12 billion on what could prove to be the world’s biggest wind farm–in Texas.
Another of his ventures, Clean Energy Fuels, is the foremost company in one of the world’s fastest-rising industries: building and operating natural gas fueling stations for vehicles.”
If Exxon were using the extra money to foot the bill for alternative technology research, instead of pushing to drill up the gulf coast of Florida, I might have a smidgeon of sympathy for them.
They’ll always be someone out there that’s going to take the money and run, without concern for others. ExxonMobil and Shell are run by a bunch of short sighted selfish, profit mongers. They’ll be long gone with their billions, and we’ll be left to pick up the damage.
Hi Lisa! Could you also send your Excel version to me? This sounds so ridiculous, but I don't ...
No i will not buy another american branded car or truck. All
do is suppport the unions and there demands ...
Excellent carnival and thanks for including my article. 
I like Centsible.net for all the shipping and return info they show for their shops. There aren't alot, but ...
Thanks for including my post and for hosting the carnival! 
This movie is really good at scaring you. Some of the projections are absolutely bone-chilling. But it largely overstates the ...
Comment by Cathryn Sykes on 4 August 2008:
In my local paper today, there was an item about how Exxon/Mobil is spending a whole 1% of it’s $11 billion plus quarterly profits on developing alternative energy sources…..
….and spending MORE than that to ADVERTISE that they’re developing alternative energy sources.