Sitting in the Dayton Airport waiting for my flight to Atlanta, I was paging through USA Today (free at my hotel, grabbed it as I wandered out this morning at 5 AM) and couldn’t help noticing that BP and Shell are reporting higher than expected profits.
Does anyone else find this offensive in the face of an impending recession (some report we’re in one, others say we’re not) and declining consumer confidence? Fuel prices are off the chart in the US, and these two companies had a combined profit of $17 Billion.
That’s Billion with a "B". A capital "B". It really deserves to be bolded and italicized.
Personally I find that offensive. I know, it’s the capitalist socienty we embrace in the US, and I’m for it – heck, I’m an entrepreneur as well and we’re a for profit company, but how much is enough?
I think there should be a call for these companies to put a significant part of these profits – and I’m thinking along the lines of at least 25% – toward renewable and environmental efforts. We’re working on extending a website calling for increased support of renewable efforts by Big Oil. I’ll post more soon, but encourage everyone to join us in calling for a $4 Billion fund to be created by Big Oil to support emerging renewable and environmental efforts.
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