Energy Tomorrow, the happy, feel-good, lying front for the American Petroleum Institute still thinks Americans are drooling idiots. There are about a dozen ways (I can think of off the top of my head) as to why the ad is misleading. Number one: oil is the most oligopolistic of all the industries listed in the first graphic. That’s a big, fat apples and oranges to you and me.
Here are the latest facts about oil industry. Chevron Corp, the second-largest U.S. oil company, said third-quarter profit doubled. Exxon Mobil Corp., the world’s largest oil company, reported yesterday that its third-quarter profit rose 58 percent to $14.8 billion. Europe’s Royal Dutch Shell posted a 22 percent gain to $8.45 billion.
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