http://www.petroleumworld.com/storyt07062701.htm
I see these news articles about Exxon and Conaco failing to get a deal in Venezuela, and I see that the titles are typically written as if it was neutral news on the wellbeing of these companies, like "ExxonMobil and ConocoPhillips to Negotiate their Venezuelan Exit," or "Exxon, ConocoPhillips Refuse Chavez Deal."
How is this anything other than very bad news for these companies?
Oh, I forgot. As long as the price of Oil goes up, so does Exxon**. Bullshit. This is the echo chamber talking. Not only does the high price of Oil stress the very US Economy that keeps Exxon in Business*, but high prices support alternatives to Exxon's product. Sure, Alternative production of energy is just a speck on the radar, but it's growing like mad. Exxon is between a rock and a hard place. Prices continue stay up, and they must continue ignoring alternatives, because to recognize them in any way is to legitimize their potential, and give them a big boost.
* Like militarily assuring a stable searoutes for Oil Distribution.
** Hereafter I use the name Exxon only, just to save time, not because they are in some way specifically the target of my ire.
Tuesday, June 26, 2007
Bad News for Exxon and ConocoPhillips.
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