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Asheville Rich get richer while we pay out the nose for gas

By Ricky Lynn Bowen
published August 14, 2007 1:45 pm

I read today where OPEC has declared there is no shortage of crude oil on the market, hence they see no need to increase production. I also read where the refineries in the United States are operating at 93 percent capacity. In light of these statements, I wonder why oil is hovering near $80 a barrel?

Maybe it is so companies like Shell can continue to make $3 million dollars every minute as recently reported in the news. Maybe it is so the stockholders continue to make vast amounts of money. Maybe it is because big oil CEOs can collect $400 million retirement packages. When Exxon-Mobil CEO Lee Raymond retired at the end of 2005, he was awarded one of the most lucrative retirement packages in corporate history, totaling almost $400 million, including stock options, pension, use of a corporate jet and even $210,800 in country-club fees and other perks. This includes the $69 million in cash and stock options he made that year.

Maybe we are on to something here …

 Ricky Lynn Bowen, Asheville and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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