Published Saturday, October 29, 2005 by Enigma America | E-mail this post
"A surplus of supply is not good for the industry," Shell Oil Co. president John Hofmeister said in an interview on Friday. "Just as a surplus of demand is not good for industry. We strive for balance." (AP)
Hofmeister's remarks is further proof that the oil industry is placing economic hardships on regular Americans to the benefit of a small amount of large shareholders.
Even as the industry reports record earnings they'll refuse to help the nation. Matthew Simmons, a longtime investment banker in the oil and gas industry, said he quietly lobbied Big Oil executives to create a Gulf Coast recovery fund of between $5 billion and $10 billion as a way to avoid the current public relations headache. But the "idea fell on deaf ears," Simmons said in an e-mail. (AP
) Starting November 10th, we target Exxon Mobil for our boycott because they're the greediest of all.