Retail prices 'rigged for a decade': The European offices of BP and Shell were raided by European officials earlier this week in the beginning of an investigation into allegations of illegal market collusion and price fixing dating back to at least 2002. [more inside]
Obama ban on deepwater drilling overturned. While many critics on the left have complained all along that the six month moratorium announced by the Obama Administration doesn't go far enough, and while polls still show nearly 60% of Americans supporting the temporary ban, the industry and its supporters meanwhile have gone into full-time spin mode, saturating all available bandwidth with opinions denouncing the moratorium, and now the courts have chosen to side with the industry.
Oil from the Deepwater Horizon spill hits the Louisiana wetlands. More photos here. Meanwhile, the state department confirms US officials have begun talks with Cuba about how to help the small island nation deal with the environmental impacts of the disaster. And as McClatchy and other news agencies are now reporting, the latest independent scientific estimates appear to confirm a rate of flow much higher than BP has previously been willing to acknowledge, in the likely range of 95,000 barrels a day, amounting to roughly an Exxon Valdez size spill every three days. Meanwhile, ProPublica reports that the industry seems intent on keeping the lid on just how bad things really are in the Gulf, and quotes company spokesmen as saying that the actual rate and amount of flow is “not relevant to the response effort.”
An Inconvenient Truth, but an unavoidable one, too. In a recent AP poll, the nation's top climate scientists are giving Al Gore's documentary on global warming five stars for accuracy. This comes on the heels of an intensifying effort to trash the science of the movie by The Wall Street Journal and The National Review. However, the overwhelming consensus of over a thousand climate scientists in 120 countries, as well as the US' own National Academy of Sciences, is firmly in Gore's camp. With an undeniable agreement among the world's scientists and oil industry hackishness coming to light, is the US about to turn the corner on it's conventional wisdom about man-made global warming?
"Corporate sleaze carves into our trust," says Dan Gilmore of the San Jose Mercury News. Sheer greed, not CIA meddling, may indeed be the motive. NameBase investigates the social networks of these perps in Lies, Damned Lies, and Enron. "It appears that unlike the BCCI scandal, there are no major spook connections with Enron. What we have here, apparently, is an assortment of talented wheelin', dealin', cheatin' Texas oil cowboys. "
Covering for our "oil buddies" It seems there were some choice statements about Saudi support for Osama's terrorism that were removed from last week's "party tape". Wouldn't want to mess with Bush/Cheney's oil pals, now would we?