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“We cannot allow fossil fuel companies to gouge the American public in concert with OPEC while raking in record profits,” said one watchdog, calling for congressional hearings.
Consumer advocates demanded congressional hearings on alleged price fixing by oil giants on Monday after the Federal Trade Commission banned an executive from serving on the board of Chevron, saying he had colluded with international representatives to keep oil prices high.
The FTC said it would prohibit John B. Hess, CEO of the Hess Corporation, from serving on Chevron’s Board of Directors as part of Chevron’s acquisition of the company, citing Hess’ public and private communications “with the past and current secretaries-general of the Organization of Petroleum Exporting Countries (OPEC) and an official from Saudi Arabia.”
“In these communications, Mr. Hess stressed the importance of oil market stability and inventory management and encouraged these officials to take actions on these issues and […]
Wonderful article! As it states: “Rep. Mark Pocan (D-Wis.) said that “jail time should seriously be considered,” highlighting the financial pain Sheffield’s actions added to households already struggling to afford groceries, childcare, and other essentials.”
Interesting observation, yes? If you or I colluded in this way jail time would be a certainty, not a “consideration”. Because we have such a multi-tiered justice system where the rich and connected get to avoid justice while the poor get plenty of it, jail time is never a certainty for those at the high end of the ladder. The fossil fuel companies have bribed ( errr…given campaign dollars) many politicians. It is why this behavior ranks only consideration of jail. The rich only need to consider who to give money to in the system to avoid consequences. It must be nice to be that insulated from the consequences of your actions.
Don’t forget that oil is why the empire is willing to risk potential nuclear war in the middle east, and with Russia. And, yes, Iran and Israel are nuclear powers despite the lies we may tell ourselves. Want a different future for yourself, and your family? Change the structure and you will change the outcomes. Think and vote outside the box.
My step-Father worked for Veeder-Root; a company which was the first to come out with the now ubiquitus type of selection of octane levels for Sunoco which was the first to do that, and they were rewarded very well for their efforts (getting a lot more money for their products because of what they did). He worked their 35 years and was well rewarded for his contribution to this process.
P.S.: my step-father made a LOT of money but never even thought about getting a life insurance policy to help his one and only step-son (ME). Even my own mother gave her son (ME) no life-insurance policy. I hate them both for not sharing their HUNDREDS of thousands of dollars by getting life-insurance, and will never forgive them!