Friday, April 04, 2008

Price hikes and Congressional investigations

In many countries around the world, oil companies are either being investigated by their parliament or congress, or simply ridiculed by the public. The typical sentiment is that these companies are more of villains who benefit from the misery of the public due to high oil prices. Hence, they deserve congressional investigations and harassment.

But gold prices were almost on their historic heights; were there Congressional investigations for big gold miners and traders?

Rice prices — and wheat, corn, other food items — are also on their all-time high, were there congressional investigations for big rice, corn, etc. producers and traders?

There are 2 industries which are the subject of envy always of politicians and the public: petroleum and pharmaceuticals. People can invest in gold, copper, paladium, other minerals and if they make big money, the public and congress won’t crucify them. The same with people who invest in rice production, coffee, etc. Or in hotels and automotive and telecomms, etc. But people who invested in petroleum and innovator pharmaceuticals, they’re considered a bunch of greedy witches. Talk of double standards.

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