johnm h Wrote:
Dec 08, 2012 10:58 AM
Any company with reserves of oil or gas will benefit from reduced exploration and development as it raises the value of their own reserves. It always amazed me when all studies showing that global warming scare was a scam were dismissed as having oil money behind them. Of course big oil that owns reserves benefits from higher energy prices and lower returns to new findings. Even if they don't own abundant reserves if they own storage, a gradual increase in prices also benefits them. Moreover any big company always has more influence on big centralized government than any small company. These are the dynamics that drive liberalism, not the popuist hogwash they spout. Unfortunately we too often take them at their word.