According to the Washingtonpost.com "BP has agreed to pay $303 million to settle civil charges that it cornered the propane market three years ago and inflated heating and cooking costs for about 7 million mostly rural American households, a source familiar with the accord said." They (Washington Post) also state that " the London oil giant has been fighting criminal and civil charges by the Commodity Futures Trading Commission that it "purchased enormous quantities of propane to establish a dominant and controlling" position in the market and then drove prices up 50 percent by keeping fuel supplies off the market."
I'm not shocked that these 'goliath' Corporations try to manipulate the markets to gain profits. As a business model you do no more wrong than the competition to stay in business. So what does this mean? It means you learn the tactics of your industry (and within the law) apply what deems the most suitable to your business plan. They (British Petroleum) did not act alone as the only Big Oil Company fixing prices (my version of the truth). As one of the largest Natural Gas producers in the U.S. they were the most obvious with their illegal scheme to corner the market and they got caught.
When do we not only get off foreign oil but stop the domestic producers from fleecing America? Can we be heard by these Oil Executives? Do We (Americans') have the chutzpah to stand up and say no more?! BP got to sweep this under the rug. What happened when the 'Oil Industry' was called in front of Congress to testify? Did British Petroleum commit purgery? Has the 'Oil Industry' purgered itself and the truth yet to be told? The fact is we are being taken to the cleaners, oblivious to the mass mugging being committed while we continue to self-serve our nation further into ecological destruction and economic servitude.
Tired of getting fleeced,
Bycha Buxton
buxtonbycha@aol.com
