Reply
Thu 11 Aug, 2005 04:29 am
..Standard Oil is back in business!!!
In 1911 the US Govt of the day broke up the Standard Oil Co of Ohio into 34 different companies to avoid... something or other... maybe an oilman in the Oval Office.
By 2011 it looks as though it will be back in business.
The actual remains of Standard Oil were bought up by BP (British Petroleum) in 1987. Two other reformed as 'Exxon-Mobil', Philips merges with Conoco, BP buys Amarco, then the neck-bone connects to the head-bone and we fund the rise of the Bushes......
1997 Ashland Oil combines most assets with Marathon Oil
1998 British Petroleum (BP) acquires Amoco
1998 Pennzoil merges with Quaker State Oil
1999 Exxon and Mobil join to form ExxonMobil
2000 British Petroleum (BP) acquires ARCO (Atlantic Richfield)
2001 Chevron acquires Texaco to form ChevronTexaco
2002 Conoco merges with Phillips
2002 Royal Dutch Shell acquires Pennzoil-Quaker State
2005 Unocal merges with Chevron-Texaco
2005 Unocal-Chevron-Texaco merges with Chevron
Of course that MUST lead to cheaper fuel as we remove 'inefficiency'. No?!?
My rosy buttocks
it does!!!!!!
Quote:After all, the price of crude oil makes up only 45% of the cost of gasoline. Government takes account for 23%. The rest goes to refiners and (to some degree) retailers. That's according to a USA Today article ("Gas costs rose after big mergers," 5/27/2004. That story details a recent US General Accounting Office (GAO) report that tracked 2,600 petroleum mergers from 1991 to 2001. Most of the mergers led to price risers on average, two cents higher (on the West Coast up to seven cents higher).
source
In response to the 'good news' the price of crude has risen to the highest
level since 1983!
Quote:The approval came on a day when crude oil futures for delivery in September set an all-time record of $65 a barrel on the New York Mercantile Exchange, the highest for a spot-contract since NYMEX launched crude futures trading in 1983, before settling at $64.90.
Reuters... as source
Damn! I'm just brimming with happiness for Big Oil! And the White House! And all the time I thought Bush was a dummy and Cheney psycho! How could I be so wrong! They're brilliant!
Well Goodfielder, you will be ecstatic over this one!!
Highest prices for crude oil EVER!!
Quote:U.S. crude oil futures scaled an all-time peak above $66 on Friday, with London Brent crude, U.S. gasoline and heating oil also hitting new highs, on strong U.S. economic data and fears of tighter gasoline supplies.
Stumble It!
Tweet This
Bookmark on Delicious
Share on Facebook
Share on MySpace