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2006-04-19 Science & Technology
Catalytic One-Two Punch Could Yield Alternative Fuel
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Posted by 3dc 2006-04-19 02:11|| E-Mail|| Front Page|| [11125 views since 2007-05-07]  Top

#1 That is a neat possibility.

Warning the Enviros and Donks will make it impossible to do.
Posted by SPoD 2006-04-19 04:13|| http://sockpuppetofdoom.blogspot.com/]">[http://sockpuppetofdoom.blogspot.com/]  2006-04-19 04:13|| Front Page Top

#2 And then blame it all on bushHitlerCheeney.

Just like they oppose opening the Alaskan oil fields and building refineries then blame them (Bush and Co.) for the gas prices.
Posted by CrazyFool 2006-04-19 08:32||   2006-04-19 08:32|| Front Page Top

#3 Obviously this is why Lee Raymond of Exxon took his $400. million and called it quits. He saw the hand writing on the wall, Exxon is DOOMED!


April 14, 2006— Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

Last November, when he was still chairman of Exxon, Raymond told Congress that gas prices were high because of global supply and demand.

"We're all in this together, everywhere in the world," he testified.

Raymond, however, was confronted with caustic complaints about his compensation.

"In 2004, Mr. Raymond, your bonus was over $3.6 million," Sen. Barbara Boxer said.

That was before new corporate documents filed with the Securities and Exchange Commission that revealed Raymond's retirement deal and his $51.1 million paycheck in 2005. That's equivalent to $141,000 a day, nearly $6,000 an hour. It's almost more than five times what the CEO of Chevron made.

"I think it will spark a lot of outrage," said Sarah Anderson, a fellow in the global economy program at the Institute for Policy Studies, an independent think tank. "Clearly much of his high-level pay is due to the high price of gas."

Exxon defends Raymond's compensation, pointing out that during the 12 years he ran the company, Exxon became the largest oil company in the world and that the stock price went up 500 percent.

A company spokesman said the compensation package reflected "a very long and distinguished career."

Some Exxon shareholders are now trying to pass resolutions criticizing the company's executive pay policies. The company is urging other shareholders to vote against those resolutions.

http://abcnews.go.com/GMA/story?id=1841989
Posted by Besoeker 2006-04-19 08:39||   2006-04-19 08:39|| Front Page Top

#4 that's a helluva lot of money. However, gasolene prices are high due to a number of factors. Nigerian supply is down 25%, Iraqi supply is still down and some of the oil rigs in the Gulf of Mexico are still off line. New fuel additive regulations now in place are mandating a higher percentage of ethanol. Oil companies are in the business of making money. Are they making too much at the expense of consumers? I don't know. I do know that the percentage of the spending by Americans on fuel as a part of their total spending has dropped indicating a cut-back in fuel consumption. I know I drive much less than I did 2 years ago. I don't take long road trips any more and only drive my truck once or twice a week.
Posted by Deacon Blues">Deacon Blues  2006-04-19 10:04||   2006-04-19 10:04|| Front Page Top

#5 Heard the morning news radio host (not talk show host, this guy just reads the news) ask if government should be more involved in regulating fuel costs, since expensive gas (paraphrasing here) is bad for baby bunnies and kittens.

*Sigh*
Posted by Seafarious">Seafarious  2006-04-19 10:16||   2006-04-19 10:16|| Front Page Top

#6 Was it Steven Porntoy on MAL?
Posted by eLarson 2006-04-19 10:23|| http://larsonian.blogspot.com]">[http://larsonian.blogspot.com]  2006-04-19 10:23|| Front Page Top

#7 No, it was Richard Day on WTOP.
Posted by Seafarious">Seafarious  2006-04-19 10:36||   2006-04-19 10:36|| Front Page Top

#8 Oil company net profits are pretty much mid-upper in terms of corporate rates. Banks/Finance are still king of that hill. Think of the ATM fees alone - brilliant concept: I keep your money and charge you a feee to get it - basically "Here, I will sell you this $20 for $23 (2 to that ATM owner and one to me your bank)"

Plenty of people are stupid enough to pay over a hundred a year in ATM fees. You want to bust some chops, go after the banks.
Posted by OldSpook 2006-04-19 11:44||   2006-04-19 11:44|| Front Page Top

#9 OS, I'd put the insurance companies ahead of the banks.
Posted by Unuting Grereque6424 2006-04-19 13:04||   2006-04-19 13:04|| Front Page Top

#10 Not me. I'd hit the trial lawyers before the insurance companies.
Posted by Secret Master 2006-04-19 13:45||   2006-04-19 13:45|| Front Page Top

#11 I put guvmints at the top. They rack in trillions of dollars every year and give very little back to their major income sources (me).
Posted by BrerRabbit 2006-04-19 14:51||   2006-04-19 14:51|| Front Page Top

#12 Yea the Govt. gets top spot for me, takes your money and if you didn't plan right you get a refund and the govt. just got a interest free loan for a year but if you owe don't be late one single day or interest and penalities start adding up.
Posted by djohn66 2006-04-19 16:44||   2006-04-19 16:44|| Front Page Top

#13 No, it was Richard Day on WTOP.

WTOP, I can't believe you were able to actually endure it without changing the channel.
Posted by 2b 2006-04-19 19:58||   2006-04-19 19:58|| Front Page Top

23:53 JosephMendiola
23:25 JosephMendiola
23:25 DMFD
23:21 DMFD
23:21 twobyfour
23:20 JosephMendiola
23:18 RD
23:11 Alaska Paul
22:58 JosephMendiola
22:54 Skidmark
22:54 Matt
22:49 IT Insider
22:49 SPoD
22:44 Alaska Paul
22:40 3dc
22:38 SPoD
22:33 SPoD
22:32 Frank G
22:31 3dc
22:30 SPoD
22:24 phil_b
22:23 JosephMendiola
22:08 Alaska Paul
22:05 Alaska Paul
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