Thought this was an interesting article about big oil focuses their target market to believe them even when their target market is getting hammered by the prices of big oil’s product.  This article shows how much a good public relations team can do for a company.

http://www.star-telegram.com/2011/04/28/3035615/exxon-mobil-defensive-about-11.html

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About stevanalbers

Steve is a PhD student in the Cell and Molecular Biology Graduate Program at Colorado State University. His research focuses on building Synthetic Biology systems in photosynthetic microorganisms. His other interests focus on analysis of bioenergy patent data to further develop a deeper understanding of this nascent industry.
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2 Responses to

  1. Paul says:

    I think it is interesting that everyone in the alternative energy industry is clamoring to basically transfer these credits to themselves. I wonder if losing these credits and subsidies would actually tip the balance? My sense that that alternative technologies would still be too expensive because the negative externalities of fossil fuels still aren’t priced. Furthermore, I wonder if price volatility would disappear or we would just have another company to hate – instead of Exxon it would be Vestas for selling too many wind turbines at too high a price…

    This has definitely been in the news lately – we’ll see if anything happens:
    http://www.nytimes.com/gwire/2011/04/26/26greenwire-boehner-open-to-ending-some-oil-tax-breaks-30323.html
    http://thehill.com/homenews/administration/157895-seeing-opening-white-house-pounces-on-boehners-words-
    http://www.eenews.net/EEDaily/2011/05/05/1/

    From E&E:

    Democrats have proposed axing several oil industry tax incentives, but the one that has gotten the most attention this week is the so-called Section 199 deduction, a tax deduction that was enacted in 2004 by President George W. Bush to give domestic manufacturing companies a leg up when competing in foreign markets.
    Current law allows the oil industry — and dozens of other industries that produce in the United States — to claim the incentive. While some industries can claim 9 percent of qualified income, the oil industry is capped at claiming 6 percent. Democrats want to prevent the industry’s largest oil companies from claiming any part of the deduction. But the industry argues that doing so would be “a vindictive use of the tax code.” “If it’s bad tax policy, it’s bad tax policy for everyone, not just our industry,” Brian Johnson, a tax policy adviser at the American Petroleum Institute, said in an interview. “To punitively seek out our industry … you’re saying a job paying $98,000 a year working in Exxon’s upstream division is not as good as a job at Starbucks.”

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