Friday, May 7, 2010

Oil Companies rank top in power and money

According to "DemocracyNow Report" ( Wednesday, May 5th, 2010, British Petroleum's (BP) profits total $6 billion every three months. They apparently disregard their $550 million in fines over the last couple years as acceptable cost of doing business.

BP has one of the worst safety records of any oil company in America according to the DemocracyNow report:
• fined for failing their probation
• In 2005 BP was convicted of a criminal felony violation on air emissions which resulted in 15 worker deaths in a refinery explosion
• manipulated the United States propane market
• habitual violation of laws

CNN report this week lists BP as the fourth largest corporation in the world, after Royal Dutch Shell, ranking #1, and Exxon Mobil, #2.

Top ranking corporations in profit around the world:
#1 Royal Dutch Shell
#2 EXXON Mobil
#4 British Petroleum (BP)
#5 Chevron
#6 ConocoPhillips

Royal Dutch Shell-- 458,361.0 ($ millions in revenues)
Location: The Hague, Netherlands

Exxon Mobil-- 442,851.0 ($ millions annually in revenues)
Location: Texas, USA

British Petroleum (BP)-- 367,053.0 ($ millions in revenues)
Location: London, Britian

Chevron-- 263,159.0 ($ millions in revenues)
Location: Texas, USA

ConocoPhillips-- 230,764.0 ($ millions in revenues)
Location: Texas, USA

BP's disaster in the Gulf Coast is emitting 60,000 barrels of oil daily, threatening wild life refuges (400 species) during the peak migratory and spawning season. The drilling rig sat 5,000 feet above the ocean floor and drilled 18,000-20,000 feet below the ocean floor. The ultimate damage is far from clear at this point in time.

With a liability capped at $75 million dollars, and lobbying against responsible safety measures as used by Brazil and Norway for their offshore drilling, the oil industry can continue to exert their power and dominance in the Untied States during this world-wide economic depression.

Currently Royal Dutch Shell subsidiary, SWEPI, out of Denver, holds leases for oil/gas development in Mora and San Miguel Counties, and ConocoPhilip's (ranking #6 in the world) San Juan County representative, Patrick Killen, attended a Mora County commission meeting in March 2010, inquiring about the viability of mineral leasing in the county. Additionally, CEJA Inc. out of Oklahoma also holds leases in Mora County.