'Ethics and the Oil Industry\r'

'As the US Economy continues to dive, unemployment persists at a level non agnizen since the capital Depression, and the US federal Government fulfils live on to continu every last(predicate)y bail pop out big business, it escapes logic wherefore the cost of fossil anoint once again, is on the rise. The US oil companies would concur us weigh it has to do with the Middle atomic number 99 oil producing nations tender back on takings, therefore raising the charge. The vital force traders at the New York convey Exchange gesticulate it off to supply and demand. Many mull over that the States has one million millions of surplus barrels of oil. I believe it is pure greed from these entities.With so many Ameri natess struggling to survive and meet come up food on the table, would it non be estimable to enact a type of moratorium on fuel charges? With the emancipation of Information Act working in full force, it is simple to find learning on the World Wide weave t hat most industries would rather not pretend reconciled. Take for example, the oil industry. As the harm of accelerator pedal at the pump changes daily, US oil companies continue to rake in huge profits. Even in the erupt of the recent oil chuck which has had a global affect, BP Oil, â€Å"the London-based fellow commit earned $1. 9 one thousand thousand from July through September, comp bed with $5. 3 billion a year earlier. But the particular that BP returned to profits at all, coming after(prenominal) a loss of $17. 2 billion in the second quarter, indicated the lodges operations inhabit solid despite the spill” (Wardell, 2010). This ships company set aside $40 one thousand thousand for the pending lawsuits and cleanup and percentage to bushel the affected economies. I do not know, how close discardping the impairment at the pump if the company really wants to effectively help out?It is jobd this spill result be felt for years to come. I wonder how man y think the Exxon Valdez spill caused by a drunken ship captain… As congressional organizeing supplicateun having many meets to discuss this issue, the oil company CEOs continue to lay claim a huge percentage of the profits (of hunt down no dollar figure was given), is for creating clean energy sources, really? Where ar the charts and PowerPoint diagrams that consumers can review to ease our minds while we are again, cedeing between $3. 00 and $4. 00 for a gal of gas?I find it kindle that when asked, not one executive was approaching with information related to the quarterly dividend payments to the pipelineh sexagenarianers. I am always flabbergasted by the laundry list of excuses these executives dribble out of their mouths. Two of my personal favorites are, 1: doubly a year, each oil company shuts off part of their refinery distribution for practise maintenance. Sure enough, for two to four weeks the price of a congius of gas tow up stakes jump 10 to 20 cents. What I find interesting is when the price starts to drop again; wherefore does the price not drop the entire amount of the add?I have personally watched some(prenominal)(prenominal) of these inquisitions on the C-Span channel. I wonder why during the Senate/oil company meetings, this question is neer asked. 2: The oil producing countries are cutting production to inflate prices. I weigh the United States Government believes the American unrestricted is clueless as to what is really termination on. The congressional leaders raise their vocalisation and appear to grill the oil execs with questions and when the meeting is over, it is a slap-on-the-wrist and â€Å"stop doing that! ”, and life continues as it does.The Senate meeting appears to have been nothing much than a â€Å"dog and pony” picture for the American human beings. Society needs to remember that congressional leaders do not have to pay for their own fuel. It continues to beg the question, w ho is watching out for the rest of us that do have to pay at the pump? It certainly testament not be the futures traders at the New York Stock Exchange. For those who do not understand futures, this is when traders speculate on the price of specific commodities much(prenominal) as Gold, Orange Juice and oil.Traders vitiate or sell based on what they believe go away be the price by a certain date. establish on this type of fabricated speculation, the cheer of the dollar and judged turmoil somewhat the world, this can have a somber effect on the price of oil, or so we are lead to believe. â€Å"In California, over a 21 month period, October 2006 to June 2008, a gallon of gas move up from $2. 29 to $4. 59 a gallon” (Herszenhorn, 2008). On a network- news website in Tallahassee, Florida, the lead article said, â€Å"Congress is poised to canvass what role speculators are playing in rising gas prices. It went on to say, â€Å"The prices keep climbing. The price at th is Tallahassee home was 10 cents cheaper expert six days ago. Panama City stations are flush worse where the price of gas Monday jumped 10 cents a gallon just Monday afternoon. ” (Ray, may 2008). In April of 2008, Governors from several states called on the White House, the Energy and Justice Departments to set an investigation into insider trading, illegal price mending and speculator manipulation. This included collusion within the oil companies.Amazingly, by November 24, 2008, a gallon of gas was $1. 71 a gallon. Everyone was so relieved of the incredible price drop, no one bothered to ask the oil companies how it was possible that gas could drop $2. 87 a gallon in phoebe bird months when it took 21 months to improver $2. 30. I think over we will never know. I suppose I would not fret if I was one who had a lot of stock in any oil company. For all the posturing the US Congress seems to have perfected to an art form, there are still many unanswered questions when the parole surrounding energy and oil surface.In a New York Times article, the overall battery-acid was once again, no concise ideas of how to occupy with the price of oil situation. Of course, the article talked slightly a lot of finger pull downing towards OPEC (Organization of the oil colour Exporting Countries). The article stated, â€Å"High on the list of Congressional Democrats own proposals is an eight-year old bill first introduced by Senator herbaceous plant Kohl of Wisconsin in 2000, that would classify the Organization of the crude Exporting Countries as an illegal monopoly in violation of the Sherman Antitrust Act” (Herszenhorn, may 2008).It went on to say, â€Å"The Republicans, meanwhile, recycled some of their old proposals to increase domestic production, with bills that would allow drilling in the Arctic, as well as in the Atlantic and Pacific, and would mandate increased production of fuel derived from coal” (Herszenhorn, May 2008). totally we hear is more rhetoric and no ideas how to help the consumer. This is not only an ethical issue; it points the arrow of social righteousness to the Government that should have the American public’s best interests at heart. As of this month, November 2010, â€Å"The number of unemployed persons, at 14. million, was elfin changed in October. The unemployment rate remained at 9. 6 percent and has been essentially unchanged since May” (BLS, November 2010). And yet, fuel prices still continue to rise. In Addition, the environment will continue to converge as talks continue about drilling in North America to distance ourselves from foreign oil. Unable to locate the article, my father told me about a news article he read several years ago that came from the oil industry. The put in was if the US no longer involve foreign oil or were to even be able to cut usance by one third, the global thrift would fall apart.It sure is hard to believe that every time I pull up to the pump to fill the armored combat vehicle… It would seem from not just a national perspective but too a global perspective, we as consumers are in a situation that will never change. As consumers look to the Federal Government to reign in the oil companies, the price at the pump continues to rise. It is troublesome to know who is lying and telling the virtue as it relates to oil. In addition, what becomes the cutoff point when I am deciding what price I am willing to pay at the pump?It seems clear that our brass will not be helping to curb oil price increases. OPEC will continue to do as they see fit and the US oil companies will raise prices as every vacation approaches and/or for whatever reason they see fit. Does it really matter? When it comes to the price of oil, the consumer cannot get the straight truth out of anyone. As we continue to read in the news about the push for alternative energy sources, the discussion continues among my friends that getting away from oil will probably never happen, in our lifetime.\r\n'