It’s just the cost of doing business for the world’s most profitable corporation. And that “cost” is barely a blip (that may be an overstatement) on their daily profit sheet.
As Rachel Maddow noted on Friday in the short report below, ExxonMobil is the nation’s largest and most profitable corporation. It is larger than Walmart, Google, McDonald’s, American Express and Goldman Sachs…combined.
And yet, the penalties they pay for violating federal safety laws leading to oil spills is almost nothing at all. For example, when Exxon was caught failing to inspect a portion of the Pegasus Pipeline — the one fill with sticky, gooey, tar sands crude that we don’t know how to clean up…the pipeline that ruptured last week in a suburban neighborhood in Mayflower, AR — they were fined a grand total of $26,000.
That’s a $26,000 fine out of the $122 million dollars in profit that Exxon makes in per day.
“There is nothing that Exxon fears from the federal government,” Maddow notes. “They have so captured the parts of the government that are supposed to punish them when this sort of thing happens, that the pain that that sort of punishment could cause them, redounds to them, essentially, not at all.”
Yes, it pays for companies like Exxon to violate the law with impunity, so it will be left to the people of Arkansas, as Maddow explains, to make the company pay any kind of real price for their crime…if they can…
More photos of the Pegasus tar sands pipeline rupture in Mayflower, AR, taken by the EPA, are now posted here. Give ’em a look. If President Obama approves the Keystone XL pipeline, this is the type of spill that could be coming to a neighborhood near you very soon.
…and Alberta is stepping up its efforts to promote the Keystone XL pipeline project, hiring two U.S. advocacy firms with ties to Secretary of State John Kerry.
“Alberta has hired a Washington lobbying firm, Mehlman Vogel Castagnetti Inc., and the Boston-based public relations firm of Rasky Baerlein Strategic Communications Inc.”
http://business.financialpost.c..._lsa=140f-323d
Well at least if you get it-but sorry about the mess- we won’t have to fear the US just “taking” it one day, along with our water.
The plan to build a pipeline from Alberta to the east coast here. Ha, let’s see them go through Quebec! That will be interesting to watch.
http://www.rawstory.com/rs/2013...-into-wetland/
Got no problem with the gist of the argument Rachel lays out.
It is true.
The point I want to add to it is that Exxon CEO dudes brag “I am not an American Company” and we need to learn that they have no national identity.
Then we can understand them more readily.
You are so kind, not mentioning Canada’s connection to this disaster. Here in Canada, there was a massive campaign to present tars sands projects as environmentally friendly. Not mentioning Canada’s connection to the crude spills is a kind gesture. The other massive spill was British, wasn’t it. Americans are so friendly to foreigners spilling oil in the USA, hardly even making them pay.
Welcome to corporate America. They have the supreme court in their pocket along with most of congress. Sad to say that a lot of people think they will do no harm.
That’s okay, Adam @ #4, you aren’t familiar with our extensive previous coverage of the Keystone XL pipeline and the mind-blowing destruction of the Alberta tar sands development, so you wouldn’t know that we are not and have never been “friendly” to Canada’s tar sands.
WHICH PARTY HAS BEST DOMESTIC RECORD?
1.From Harding In 1921 to Bush in 2003
2.Democrats held White House for 40 years and Republicans for 42.5 years.
3.Democrats created 75,820,000 net new jobs — Republicans 36,440,000.
4.Per Year Average””Democrats 1,825,000–Republicans 856,000. WOW
5.Republicans had 9 presidents during the period and 6 had depression or recession.
6.Republicans had a recession/depression in 177 months and Democrats in 32 months. WOW.
——————Each “significant” one was under a R president————————-
7.DOW“”1928 to 2003″”Stock market gained 11% average per year under D presidents versus 2% under R presidents. Small Cap stocks gained 18% as yearly average under D and minus 3% under R
WOW.
8.GDP“”grew by 43% more under Democrats. WOW
9.Income Growth””1948-2005–each increased (percentage wise)under D presidents over R presidents by these numbers– Quintiles–(Top-10%)–(2nd-71%)-(third-127%)-(fourth-212%)-(fifth-550%) WO
Add in Bush II numbers makes it much worse for Republicans
source–TimothyNoah– Nov. 2010 in Slate magazine
Question””Why would a working person vote for a Republican for President?
Shhh do not awaken democratic leadership!
The problem, Adam @4, is that the oil cartel is global. Whether the source of the disasters includes Brits, Canadians, Americans, Dutch in the case of Shell Oil, etc. is secondary to the true source which is the international investor class, aka the one percent, and the extent to which they control the decisions of their respective governments.
… Desi Doyen said
Good! That kind of hostility is welcome. Such negativity is very positive for the future. We need more of that to switch to better solutions.
… Ernest A. Canning said on 4/10/2013 @ 10:36 am PT…
I’m with you on that. The international currency of trade, US dollars, is actually pegged to the oil standard, the value of oil. The “world government” is a reality — the government of the 1% looter class.
Exxon curiously can just swarm Mayflower, AK and they literally are the law. Any reporter outraged at literally being tossed out of the official tour for state officials, or being banned from covering a public meeting with Exxon officials, or banned from covering wildlife rescue taken over by Exxon, or banned from covering nauseous local residents seeking medical care, or banned from investigating those air quality tests so trumpeted is SOL if expect the Sherriff or city government to follow the law.
This in a state led by Democrats sort of.
ExxonMobil can literally push most states around with the Arkansas Attorney General sputtering – you have to turn over some records or else, an empty threat.
DOMA
I do not comprehend Gay Marriage.
I am 88 and have met only on Gay person.
Fowl and Fish do not have Gays.
They mate Female/Male.
I cannot comprehend me kissing another male no matter my love for him.
I just do not understand 53% approving Gay Marriage.
How can church pastors promote it?
The “Grand Bargain” is about hurting regular people (“shared sacrifice”) who have been sacrificing since Reagan. The rich have gotten tax cut after tax cut. Their corporations get breaks and subsidies. Wages have been stagnant since Reagan broke the unions, but prices have gone up. People used up their savings, then went into debt. Meanwhile government services for We the People have been cut, cut, cut. Our infrastructure is crumbling. Our transportation and electrical and other systems are just a mess. The safety net has collapsed. College has become unaffordable. Poverty is soaring and the middle class is disappearing.
So now regular people have to “sacrifice” to pay off the money the government borrowed to give the rich their tax cuts and subsidies. That’s the “Grand Bargain” in a nutshell.
The top 10% now own 73% Net Wealth””83% Financial Wealth””Get 43% Individual Income and pay 15% or less Tax Rate. We rank 4th on Inequality in OECD nations””We rank #1 in percent of workers earning a low wage—44 million earn minimum wage””46 million need Food Stamps..
Just wait until the PC Police at Raw Story find comment #12. Be prepared for some nasty insults.
You know of course that God handed down to Man the holy scripture The 2nd Amendment, and then 200 years later the holy code to create Google Search.
Google “(homosexual, bisexual) fish” for interesting reading.