Thursday, January 1, 2009
Bailout Missing Player: Big Oil
Big Oil has made big bucks thanks to gas-guzzling Big Three vehicles. It has maintained and increased profits throughout the economic crisis. Why is Big Oil not part of the Big Three bail-out? Corporations that are dependent on each other should be throwing their weight behind their economic partners. If they weren't in cahoots before the crisis, perhaps they need to cooperate now. Synergism is not a dirty word. Oil reserves will run out. Suppliers and users of oil need to work together to develop alternatives to the current situation. Is this something regulators can handle? Ethics don't seem to be a corporate strong point these days.