Technology with attitude

Bio Oil Gets Grilled On Capitol Hill

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How do they explain their record profits? Good planning? Price gouging? Lucky breaks?

First CBS has this report…

I like that…the reason their profits are so big is because their companies are so big? I guess we all should just start building bigger companies then, yeah?

Then from the AP, and note how one of them talks about the effect of the weakening dollar…

Here’s the thing…there’s no good reason why we’re giving these companies tax breaks. Not anymore. It’s time to take that money and start investing in our nation’s green energy future. Because between our inability to persuade OPEC and these execs’ “hey, this is just the market” answers…this rising price trend shows absolute ZERO signs of slowing down. And what I mean by that are there are literally no answers to how we turn this around…except to replace gas with alternative fuel sources.

Meanwhile, crude hit $134 a barrel today and some are warning of $12-$15 a gallon gas in the coming years due to “peak oil.”

*shudder*

Folks, it’s obvious that we’re hitting an inflection point and the time to go green was yesterday. Otherwise we’re looking at forced rationing in the not too distant future. This is now a very real, very dangerous economic stability/national security issue and if the oil companies aren’t going to invest in earnest in alternative fuel sources, it’s up to the government.

Again, bye bye tax breaks. Anything less is negligent.