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dejah420 (2)

Oil companies, not environmentalists behind refinery shortages. The Foundation for Taxpayer and Consumer Rights (FTCR) today exposed internal oil company memos that show how the industry intentionally reduced domestic refining capacity to drive up profits. Internal memos from Mobil, Chevron, and Texaco show different ways the oil giants closed down refining capacity and drove independent refiners out of business. In related news, petroleum industry analyst Tim Hamilton showed that from January 17th to April 18th 2005 gasoline prices jumped 65 cents per gallon and refiner profits rose [pdf] by 61 cents per gallon.
posted by dejah420 on Sep 7, 2005 - 80 comments

Can it be called war profiteering? The size and scope of the government contracts awarded to Halliburton in connection with the war in Iraq are significantly greater than was previously disclosed and demonstrate the U.S. military's increasing reliance on for-profit corporations to run its logistical operations. Independent experts estimate that as much as one-third of the monthly $3.9 billion cost of keeping U.S. troops in Iraq is going to independent contractors.
posted by dejah420 on Aug 28, 2003 - 66 comments