Do you not believe in the profit motive?
Is there a giant mattress somewhere for them to put that product of their greed? (I heard this is what Greenland is, under the snow is billions in oil profits just sitting there in a giant suitcase.)
If you were an oil baron would you: spend on developing more oil fields to reap more profits, spend on developing new technologies so you have a product or service to extend your going concern, or stash it with the high chance you will need it to comply with future regulatory costs or do nothing?
I would do the first three, as do all the companies you maentioned in your post. Profits are the solution, the oil companies don't make any money off of federal tax or environmental regulation, they lose money there. They only make money off of demand driven pressures. It is in their best interest to serve the demand. For if the margins grow to high someone else will decide they can enter the market and serve them. It is also in their best interest to develop alternatives. Any solution to any impending energy crisis will come from the energy companies... afterall some of those companies had a stake in selling Whale oil, and they solved that shortage didn't they?
-- lates
-- jrawk
BUT KEEP ON DRIVING YOUR GIANT STUPID-@SS SUVs!!!!!
Sure. Where did I say I didn't?
If you were an oil baron would you: spend on developing more oil fields to reap more profits, spend on developing new technologies so you have a product or service to extend your going concern, or stash it with the high chance you will need it to comply with future regulatory costs or do nothing?
If I were an oil gouger, with supply fixed and demand inflexible, I would raise the costs of my product to the point where disgruntled consumers started to shoot my board of directors and burn my headquarters to the ground. Then I would lower costs 10 percent and act like I had done some noble thing. And all the time, I would blame the price gouging on "environmentalists" and "regulation" and refinery capacity and a host of other excuses that won't withstand even the most casual scrutiny. If the grumbling gets too loud, I'll throw a few billion at some tacky PR campaign to convince the idiots in Consumerland that I give two hoots about them.