For The Love of Oil: The Fleecing of the American Consumer by Big Oil Companies, Politicians, and Wallstreet Commodity Traders [Paperback]

John McElroy (Author)

Book Description

Publication Date: June 29, 2006

ABOUT THE BOOKMany have stated that the oil and gas company mergers of the late 1990's simply put Standard Oil back together again. By allowing most of it's former companies to merge into a handful of companies, they are now united in effort to manipulate the refining and distribution of oil products, much the same as Standard Oil once did. In one respect, the politicians have allowed a 'corporate oil cartel' to be created. One much more powerful than OPEC. In May of 2001 Senator Carl Levin pointed out in a letter to the General Accounting Office (GAO) that oil and gas company mergers of the late 1990's had had an adverse effect on consumers. He expressed his concern about price manipulation. The GAO in an earlier report had also concluded the oil company mergers had led to higher prices for the American consumer.Yet the politicians we elect have done nothing about it. Unless you count the tens of millions of dollars they have taken from the oil companies ($52 million from 2001-2004, mostly to the Republicans), or from the Wallstreet investment and commodity firms ($26 million in 2005 alone, 52% to the Democrats), in order to do nothing about it.The goal of this book is to educate and explain in basic terms how the oil and gas companies, and Wallstreet commodity firms, have driven up the cost of oil products and natural gas. It will also give the reader information to help bring about political and economic change.

Editorial Reviews

About the Author

J.C. McElroy has a degree in Economics and Business Management from the University of Kentucky. He has written several books, including both fiction and non-fiction titles.

Product Details

• Paperback: 80 pages
• Publisher: AuthorHouse (June 29, 2006)
• Language: English
• ISBN-10: 1425942547
• ISBN-13: 978-1425942540
• Product Dimensions: 8.6 x 5.9 x 0.2 inches
• Shipping Weight: 3.2 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,192,048 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars Fleecing America at the gas pumps., August 9, 2008

By 

J.L. Populist (WI,USA) - See all my reviews

This review is from: For The Love of Oil: The Fleecing of the American Consumer by Big Oil Companies, Politicians, and Wallstreet Commodity Traders (Paperback)

The author states that the goal of "For The Love of Oil" is to explain how the oil companies and others have manipulated the cost of gasoline and other oil products. J.C. McElroy definitely achieved that goal.

The author details the history of Standard Oil and anti-trust laws.

On the war in Iraq he has this say-" The facts show that the U.S. government had a decisive plan to take control and rebuild the oil fields, but had little or no advanced planning to take control of the cities of Iraq and bring peace and security there."
That should give the reader an idea of what the 3-letter priority in Iraq has always been.

McElroy goes through a list of excuses for high prices of oil and related products, effectively exposing them as myth. Such as China and India's energy demands, what countries supply us with oil, refinery capacity.

Many legislators often trade the non-regulation of energy commodities for large campaign contributions. They have sold out their constituents-the consumers.
From page 66, "We can not stand any more political representation for the special interests of big oil, healthcare, and the pharmaceutical industries at the people's expense."

"For The Love of Oil" exposes who really profits from the high prices we pay at the gas pump, how they do it and why they get away with it. He also soberly assesses the grave implications for the economy and national security.

McElroy addresses Cheney's National Energy Strategy Board and the secrecy of it. "There is no executive priviledge to conspire with energy companies to shakedown the American consumer." That explains part of the problem.

In addition to the American oil cartel, Wall Street is another huge portion of the problem. "It is ludicrous to allow speculative trading that can only hurt the consumer."-page 65.

If you want to understand exactly how we are being fleeced and who benefits from it I can't recommend this book enough! For a 67 page book, "For The Love of Oil: The Fleecing of the American Consumer by Big Oil Companies, Politicians, and Wall Street Commodity Traders" packs a lot of information!