Getting Even With ExxonMobil

Getting Even With ExxonMobil

In this post, which is part of a series of posts on the hot button topic of rising gas prices and record oil company profits, Robert argues against the powerful temptation to tax Exxon/Mobile’s recent windfall profits. Doing so will do nothing to lower recent high gasoline prices, which in reality are driven by global supply and demand and will risk driving more of the oil business overseas. He goes into some depth on each of the main tax breaks and subsidies that the oil sector now enjoys and argues the case that these need to be continued and that the oil sector should not be singled out. He poses the question if it is fair for ExxonMobil to pay even more income taxes, than why not Apple or Google, which have much higher profit margins?

Will Big Oil Become Big Algae? ExxonMobil and Chevron Invest in Synthetic Biology

On August 11, the Financial Times reported on the promise of “synthetic biology,” including the development of algae that generates biofuels. In July, ExxonMobil entered into a $600 million venture with Synthetic Genomics, a firm founded by biotech pioneer Dr. Craig Venter. “Synthetic Genomics has already engineered strains of algae that secrete oil from their cells,” writes the FT’s Clive Cookson. Will oil companies transform themselves into algae companies? Or, a few years from now, could the makers of “Who Killed the Electric Car?” film a sequel about algae?

Clean Energy Sector Ups Spending on Lobbyists

A recent report from research firm New Energy Finance, spending on Washington lobbyists by the clean energy industry has accelerated rapidly in recent years, but still lags behind that the fossil fuel industry. Through the first six months of 2009, the sector spent an unprecedented $r12.1 million on lobbying, According the Center for Responsive Politics, During the same period, oil and natural gas spent $82.2 million on lobbying, with ExxonMobil alone contributing $14.9 million. That’s $2.8 million more that the entire clean energy sector.

Debunking The Spanish Study on The Dire Result of Green Jobs Creation – Updated January 1, 2011

By now, everybody has heard about the Studyt out of Spain that supposedly proves that Obama’s green jobs program is a loss cause that will hurt our economy. I think there are numerous flaws with that study. In this update, we have Spain’s response to his claims, proof that his data was falsified, an explanation of how the renewable energy investment did not have the major negative impact on business, in Spain, that his analysis was too simplistic to be applied in any real world model, and what most economists believe is the major cause of Spain’s high unemployment rate. I will also bring to light extremely relevant facts, that the study fails to mention or factor in to the study, and review the US’s history and results from past renewable energy investments. That’s right we have been investing in renewable energy for years.

Who Are The Ten Top Greenwashing Companies in America

Increased public awareness of environmental issues has forced American industry to address these issues. However, many of these companies resort to greenwashing. Greenwashing is the act of misleading the public regarding the environmental practices of a company or the environmental benefits of a product, service, or business line. 24/7 Wall St. has put together a list of the Top Ten Greenwashers in America.