Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Blowing the Whistle on Big Oil

What's on your mind?
General interest discussions, not necessarily related to depletion.

Blowing the Whistle on Big Oil

Unread postby threadbear » Wed 30 May 2007, 00:21:51

I can't really think of a better category for this information. This article is a few months old, but it's quite interesting, and of course has geopolitical implications. I think there's a recent follow up article and will follow up.


Blowing the Whistle on Big Oil--New York Times:


Investigators say they have found evidence of myriad problems at the department: cronyism and cover-ups of management blunders; capitulation to oil companies in disputes about payments; plunging morale among auditors; and unreliable data-gathering that often makes it impossible to determine how much money companies actually owe.

“We don’t have a system that accurately tells us how much oil is being taken out of the ground.”

Blowing the whistle on big oil -- NYT
Last edited by threadbear on Wed 30 May 2007, 01:04:45, edited 1 time in total.
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby threadbear » Wed 30 May 2007, 00:38:36

A BIT of a follow up anyway:

The Department of Interior Inspector General is slated to issue reports this summer concerning its investigations into the numerous problems at the MMS. In December 2006, the New York Times reported that the Justice Department had initiated a criminal investigation into the RIK program. In addition, whistleblowers at the MMS filed False Claims Act lawsuits against Eni Petroleum, Shell, and Agip Exploration alleging that they had improperly deducted almost $20 million in transportation costs on RIK leases

http://www.commondreams.org/news2007/0523-05.htm
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby threadbear » Wed 30 May 2007, 01:18:24

$this->bbcode_second_pass_quote('pstarr', 'B')ig Oil is not the problem threadbare. It's Peak Oil.


Sadly PStarr--It's both. I wish I could agree with you whole heartedly. It would certainly be easier for me to plan. As it is, I couldn't possibly be more prepared unless I built an actual bunker and filled it with Krations and guns.
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby PraiseDoom » Wed 30 May 2007, 01:35:10

$this->bbcode_second_pass_quote('threadbear', '
') As it is, I couldn't possibly be more prepared unless I built an actual bunker and filled it with Krations and guns.


You mean you HAVEN'T??

Snap to it man, we're more than a year into the greatest deterioration the world has ever seen, the country is crashing around us, we are possibly but days away and uncontrollable Saudi Arabian oil declines ( along with everyone elses ), and you are posting here wasting time rather than accumlating the necessities to carry you through the long struggles ahead?

Wake up and get crackin!
User avatar
PraiseDoom
Lignite
Lignite
 
Posts: 289
Joined: Mon 23 Apr 2007, 03:00:00

Re: Blowing the Whistle on Big Oil

Unread postby Zardoz » Wed 30 May 2007, 02:14:37

$this->bbcode_second_pass_quote('pstarr', '.')..you are a sarcastic twerp, are you not?

He's probably actually JohnDenver, or maybe ReserveGrowthRulz.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
User avatar
Zardoz
Expert
Expert
 
Posts: 6323
Joined: Fri 02 Dec 2005, 04:00:00
Location: Oil-addicted Southern Californucopia

Re: Blowing the Whistle on Big Oil

Unread postby threadbear » Wed 30 May 2007, 02:20:23

Anyone care to comment on the articles? I am posting them for general oil issue awareness, not to reintroduce the tired topic of peak or no peak, actually. I think you should have a look.

Investigators are saying as much as 7 billion dollars worth of leasing agreement money may not have been paid. That's money right out of your pockets. I'm not American, so it doesn't affect me, but it should interest you. That's 7 billion.
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby Rogozhin » Wed 30 May 2007, 02:48:43

I like guys that post with fervor!

Keep at it threadbear!

Pstarr likes to fvck with all of us ;)

Rog0
User avatar
Rogozhin
Lignite
Lignite
 
Posts: 318
Joined: Tue 26 Dec 2006, 04:00:00
Location: Eastern Washington

Re: Blowing the Whistle on Big Oil

Unread postby Zentric » Wed 30 May 2007, 03:15:28

Yeah, right. And here's another passage from the same "New York Times" article:

$this->bbcode_second_pass_quote('', 'B')ut Republican leaders on the House Government Reform Committee, which has been reviewing the flawed leases, recently accused Interior officials of perpetuating a “culture of irresponsibility and lack of accountability” at the agency.


So, in sum, irresponsibility, lack of accountability, cronyism, cover-ups, management blunders, capitulation to oil companies, low morale amongst the auditors, unreliable data gathering on extracted oil... blah blah blah... so what, and WHO CARES?

Look. As long as I feel assured that my government and the oil companies it cooperates with would never lie to me with respect to their reporting on the sizes of, or the changes in, our oil and gasoline stockpiles, or with how much gasoline or oil we consume from month to month, or how much consumption truly has gone down in response to higher gasoline prices and how this decrease stacks up against the stated lags in gasoline imports and domestic refining capacity, and that the Government's reports of inflation and real GDP are always rock solid and to be believed, and that the oil companies and refiners, with the Government's assistance, are, and always have been, doing their level best to maintain a sufficient supply of gasoline for domestic use in the near, medium and long-terms[sup]*[/sup] while, of course, always working to assure for themselves a fair profit along the way - then I know what I need to know. And what does it concern me if some poor auditor is having a bad week or, for that matter, if Kerr-McKee could have gotten its hands on millions of barrels of unaccounted-for oil?

Not that it matters, but I'm skeptical. Can you prove this article actually came from the New York Times?

[sup]*[/sup] Not that there is anything right about that, mind you. :roll:
User avatar
Zentric
Tar Sands
Tar Sands
 
Posts: 709
Joined: Mon 14 Mar 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby Zentric » Wed 30 May 2007, 03:30:35

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('Rogozhin', 'I') like guys that post with fervor!

Keep at it threadbear!

Pstarr likes to fvck with all of us ;)

Rog0
Hey! What's your problem Rogain? :lol:


It's kind of slow around here tonight. You guys want to go out and get paranoid at something? :o
User avatar
Zentric
Tar Sands
Tar Sands
 
Posts: 709
Joined: Mon 14 Mar 2005, 04:00:00
Top

Re: Blowing the Whistle on Big Oil

Unread postby threadbear » Wed 30 May 2007, 16:00:25

PStarr, As I've mentioned before I believe there is an actual supply problem. I also think this is an interesting situation unfolding. Seeing as it's sourced from NYT, and involves a legal dispute, I think it should be viewed.
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby Plantagenet » Thu 31 May 2007, 12:54:01

John Edwards, dem Presidential candidate, calls for investigation of big oil companies

http://biz.yahoo.com/ap/070531/edwards_ ... .html?.v=1

Edwards believes the evil oil companies are responsible for ongoing gas price increases.

I wonder who the first leading politician will be to call for an investigation of Peak Oil? :wink:
Never underestimate the ability of Joe Biden to f#@% things up---Barack Obama
-----------------------------------------------------------
Keep running between the raindrops.
User avatar
Plantagenet
Expert
Expert
 
Posts: 26765
Joined: Mon 09 Apr 2007, 03:00:00
Location: Alaska (its much bigger than Texas).

Re: Blowing the Whistle on Big Oil

Unread postby Zentric » Thu 31 May 2007, 15:40:26

$this->bbcode_second_pass_quote('Plantagenet', 'J')ohn Edwards, dem Presidential candidate, calls for investigation of big oil companies

http://biz.yahoo.com/ap/070531/edwards_ ... .html?.v=1

Edwards believes the evil oil companies are responsible for ongoing gas price increases.

I wonder who the first leading politician will be to call for an investigation of Peak Oil? :wink:


Good find, Plantagenet.

From the article:

$this->bbcode_second_pass_quote('', '"')Vertically integrated companies like Exxon Mobil own every step of the production process -- from extraction to refining to sale at the pump, enabling them to foreclose competition," says an outline of Edward's energy plan.


Also:

$this->bbcode_second_pass_quote('', 'M')any of Edwards' proposals -- from cutting greenhouse gas emissions to investigating oil industry consolidation -- have been the subject of numerous hearings in Congress this years, as has calls by Democrats to make automobiles more fuel efficient.


So it appears that Edwards does understand how excessive industry consolidation can and often does interfere with the traditional sourcing and pricing mechanisms that are supposed to exist within truly free markets. This is another way of saying that Edwards understands the inherent dangers of oligopoly - which are the potentially corrosive effects you get when less than a handful of big industry players are able to, at their whim: (1) manipulate the markets, and (2) manipulate the government agencies who are in charge of ensuring that everyone operates inside the public trust. Just as threadbear's article from the "New York Times" would indicate.

I'm still leaning towards Obama though. There's just something about Edwards and his $400 haircuts.
User avatar
Zentric
Tar Sands
Tar Sands
 
Posts: 709
Joined: Mon 14 Mar 2005, 04:00:00
Top

Re: Blowing the Whistle on Big Oil

Unread postby MacG » Thu 31 May 2007, 18:08:44

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('PraiseDoom', '')$this->bbcode_second_pass_quote('threadbear', '
') As it is, I couldn't possibly be more prepared unless I built an actual bunker and filled it with Krations and guns.


You mean you HAVEN'T??

Snap to it man, we're more than a year into the greatest deterioration the world has ever seen, the country is crashing around us, we are possibly but days away and uncontrollable Saudi Arabian oil declines ( along with everyone elses ), and you are posting here wasting time rather than accumlating the necessities to carry you through the long struggles ahead?

Wake up and get crackin!
you are a sarcastic twerp, are you not?


Might be genuine. Very genuine indeed ...
User avatar
MacG
Heavy Crude
Heavy Crude
 
Posts: 1137
Joined: Sat 04 Jun 2005, 03:00:00
Top

Re: Blowing the Whistle on Big Oil

Unread postby threadbear » Thu 31 May 2007, 20:21:41

I'm interested in the quote, from the New York times stating that there is no way to measure how much oil is actually being drilled from public lands by oil companies, domestically. You would think that this would speak to the issue of transparency in foreign lands.

I get the feeling that Opec and big Oil can pretty much tell us anything they want. If it suits their purposes to exaggerate on the plus side, right now, could they not also lie on the minus side? I can see how projections of plentiful oil drives share prices higher for the long term. But could they not just as easily switch strategies and exaggerate how little they have to cause prices to sky-rocket. Investors would be attracted to it as a short term play.
User avatar
threadbear
Expert
Expert
 
Posts: 7577
Joined: Sat 22 Jan 2005, 04:00:00

Re: Blowing the Whistle on Big Oil

Unread postby PraiseDoom » Thu 31 May 2007, 20:34:08

$this->bbcode_second_pass_quote('Plantagenet', '
')
I wonder who the first leading politician will be to call for an investigation of Peak Oil? :wink:


What is there to investigate? Us smart folks saw it coming, watched while it occurred, and now 2 years after the fact are sitting around waiting for the dieoff to begin.
User avatar
PraiseDoom
Lignite
Lignite
 
Posts: 289
Joined: Mon 23 Apr 2007, 03:00:00
Top

Next

Return to Open Topic Discussion

Who is online

Users browsing this forum: No registered users and 3 guests