Public, Political Pressure May Rise
As Inquiry Looks Into Possibility
Of Manipulation in Gas, Oil Prices
Federal investigators are examining whether BP manipulated crude-oil and unleaded-gasoline markets, signaling a rise in regulatory scrutiny of the British energy giant, said lawyers and traders close to the case.
See here we all thought that by green they meant concern for the environment. That claim was so ludicrous (see Alaskan oil fields) but now it makes sense: Green = $. And it’s refreshingly honest, too.
If these allegations are true it proves that BP has problems on more than just a moral level. How dumb does a gas/oil company have to be to bother with manipulating markets in THIS economy? Mr. Gild, meet Mr. Lilly. Even by my lax standards this falls under “excessive profit taking.”
Way to go, CVH. Good post. Thanks for pointing out how bogus BP is.