Re: Oil Company Profits Boom.
Who the oil companies trying to fool? Why these companies would research on alternative source of energy? How are they going to stay in business if people start using an alternative source instead of oil for energy consumptions. All those ads from oil companies about how much they are spending money on research on alternative fuel is a big lie.
Three separate internal confidential memos from Mobil, Chevron and Texaco have been obtained by The Foundation for Taxpayer and Consumer Rights.
These memos outline a deliberate agenda to gouge prices and create artificial scarcity by limiting capacities of and outright closing oil refineries. This was a nationwide lobbying effort led by the American Petroleum Institute to encourage refineries to do this.
An internal Chevron memo states; “A senior energy analyst at the recent API convention warned that if the US petroleum industry doesn’t reduce its refining capacity it will never see any substantial increase in refinery margins.”
The Memos make clear that blockages in refining capacity and opening new refineries did not come from environmental organizations, as the oil industry claimed, but via a deliberate policy of limitation and price gouging at the behest of the oil industry itself.
http://www.consumerwatchdog.org/energy/fs/5105.pdf Mobil