Dual fuel

February 24th, 2006

You will no doubt have read about CITGO selling cheap (ie Venezuelan government subsidised) oil to poor US households.

Whilst this undoubtedly shows off Chavez in a good light versus Bush, it lets the US regime off the hook and continue its real business concerns as normal, such as subsidising US oill companies as reported by Oligopolywatch:

Big petroleum companies are showing record profits through windfall gains thanks to supply shortages and increased demand. Top oil companies announces record profits, while consumers and businesses outside the energy segment, both big and small, suffer from higher energy prices.

Yet it turns out that US is giving away $7 billion in royalty payments for natural gas and oil the federal government owns in the Gulf of Mexico.. This money is going to major oil companies over the next five years […]

Technorati Tags: , ,

One Response to “Dual fuel”

  1. irdial Says:

    Indeed, the third to last post on oldblogdial mentiones this very same cheap oil scheme. here in th eUK gasprices are giong op by 22%, and the gas companies are making record profits. Nothing wrong with that say I, it simply means that its time to wear a sweater and iinsulate your house to reduce consumption.

Leave a Reply

You must be logged in to post a comment.