“The best outcome for the oil companies is if nothing changes”
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“The best outcome for the oil companies is if nothing changes”
Posted 26 April 2013 in
“The best outcome for the oil companies is if nothing changes”
–Paul Bryan, former Chevron executive
This week, oil companies are releasing their quarterly financials and Chevron, like the rest of the industry, has managed once again to amass exorbitant profits at the expense of the American taxpayer – $6.2 billion dollars in the last three months alone.
Now if oil companies like Chevron were actually interested in reducing the squeeze on our wallets, they would reinvest some of those billions into the research and infrastructure we need to support alternative, renewable fuels. But instead, Chevron “quietly shelved” its renewable fuel projects in 2010, despite assurances from their own scientists that their research had yielded a “technical winner.”
This is all part of a larger pattern. Oil companies were willing to support renewable fuel last decade, when they didn’t see it as viable competition. But now that they see real change on the horizon, they’re more worried about protecting their monopoly than ushering in the next generation of transportation fuel. That’s why API and its corporate backers (like Chevron) will go to any lengths to kill the Renewable Fuel Standard because they know that if gas prices stay high, so do their profits.
If this makes you mad (it sure makes us mad), then take a stand and sign the pledge to support renewable fuel!
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“The best outcome for the oil companies is if nothing changes”
