I know I'm supposed to be a capitalist.. but...
I was plowing my way through the Detroit News, and ran across this article regarding hydrogen as an energy resource:
http://www.detnews.com/apps/pbcs.dll/article?AID=/20051212/OPINION03/512120358/1148
In reading it (of course after reading an article about how Ford is building bigger and bigger SUV's), a quote struck me like a lightning bolt...
"The way Burns sees it, the big energy companies have little incentive to invest in new capacity production that carries the risk of being in excess of demand for fuel. “As such, the oil companies have the favorable perfect storm,” Burns argues, “in that they have capacity short of demand and they have constraints in their supply chain that explain away why they have to raise prices.”
The result is an “outrageous” transfer of wealth to the oil industry, as evidenced by the fact that ExxonMobil’s profits are greater than GM’s market capitalization. What galls Burns is that the auto industry has been driven to the point where it is giving its cars away and the oil industry is making the money on supplying fuel."
"GREATER THAN GM’s MARKET CAPITALIZATION?" W...T...F?!
The author states that GM will have an economically competitive hydrogen driven car developed by 2010...
Sign me up Mr. Burns. Ill place my order now, and flip a finger to ExxonMobil, and the rest of the oil-rich asshats in the world.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20051212/OPINION03/512120358/1148
In reading it (of course after reading an article about how Ford is building bigger and bigger SUV's), a quote struck me like a lightning bolt...
"The way Burns sees it, the big energy companies have little incentive to invest in new capacity production that carries the risk of being in excess of demand for fuel. “As such, the oil companies have the favorable perfect storm,” Burns argues, “in that they have capacity short of demand and they have constraints in their supply chain that explain away why they have to raise prices.”
The result is an “outrageous” transfer of wealth to the oil industry, as evidenced by the fact that ExxonMobil’s profits are greater than GM’s market capitalization. What galls Burns is that the auto industry has been driven to the point where it is giving its cars away and the oil industry is making the money on supplying fuel."
"GREATER THAN GM’s MARKET CAPITALIZATION?" W...T...F?!
The author states that GM will have an economically competitive hydrogen driven car developed by 2010...
Sign me up Mr. Burns. Ill place my order now, and flip a finger to ExxonMobil, and the rest of the oil-rich asshats in the world.
posted by TheEvilDoer at 9:46 AM
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