> Americans would rather buy
> cheap foreign oil
Nonsense ! "Americans" were never given the choice !
JD Rockefeller, founder of Amoco's ancestor, was famous for pursuing only
maximum profit. And British Petroleum, who now own Amoco, are much the same.
Then there was the Purdue professor that came up with a commercially viable
process to turn corn into alcohol at about $2/gallon. I understand he patented
it, then one of the oil companies bought the rights to the patent ... further
research is very difficult because they claim you're infringing their patent ...
meantime US corn prices are in the crapper.
Meanwhile, oil company profits are soaring, with some reporting triple (yes,
that's 3 times as much profit) in 2004 than in 2003. I'm sorry, it's NOT
"OPEC's fault", at least not all of it.
BTW, Valero, based in San Antonio, is one of those companies whose profits are
way up, and they use primarily "sour" North American oil instead of paying
outrageous prices for "sweet" Arabian oil. They're cheaper at the pump, too.
And they don't even own their own wells, like Amoco, Shell and the others do.
Randall
PS, don't feel bad, I'm sure the rank & file at Enron thought they worked for an
honest, wonderful company, too.
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