VIEWS: 10 PAGES: 1 CATEGORY: Engineering & Energy POSTED ON: 6/26/2010
Oil refiners made less money in the third quarter of this year. Most of them reported approximately half of the profits they made in the same period last year. The oil industry's fortunes mirror the price of crude oil. By participating in alternative fuels activities, oil refiners can identify when threats to their business might materialize and make the necessary strategic moves to maintain their shareholders' value. Like many other big businesses, the oil industry spent heavily on lobbying in the third quarter of 2009 to influence policy makers to make decisions favorable to their industries. Cap and Trade regulations do little to reduce CO2 emissions or encourage innovation.
Lessen dependency and add incentives John Martin Fleet Equipment; Dec 2009; 35, 12; Docstoc pg. 10 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
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