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It is easy enough to
pile on the “big oil” companies. Collusion? When all of the big oil
companies fluctuate their prices within pennies of each other I see
collusion, and that is why I called for hearings into the pricing
practices of America’s big oil companies and the application of
appropriate sanctions for any illegal monopolistic practices. I believe
that all companies have a right to make as much profit as they can, but I
submit, a company could use Wal-Mart founder Sam Walton’s model to make a
greater profit while becoming a champion to the consumer. Walton’s model
of basic economics shows that a company can cut the price on any product
and take a larger share of the market, that company would sell more and
make a greater profit while forcing their competitors to lower their
prices.
As for America’s
refinery capacity, the oil industry’s latest figures put America’s
refinery output at roughly 95%, which is considered to be full
production. Conservation will help, but to meet the future needs of
Americas growing population and to keep domestic industrial production
growing, we need more refinery capacity. I do not buy the arguments used
by America’s big oil companies that government red tape will not let them
build more refineries. It appears to me that big oil companies have great
influence over government when I look at the ease in which they have
consolidated. Their apparent influence and the publicly reported record
profits lead me to conclude that big oil companies could wade through the
red tape required to build new refineries if they wanted to.
Instead of piling on
the big oil companies and relying on the Federal government to find a
solution, which is ridiculous and will ultimately grow the size of
government, Oklahomans must act. Two years ago I called for the use of
technology and innovative ideas to solve America’s energy problems. Big
oil companies’ control on energy, $50 plus oil on the world market and
advances in technology has created an opportunity which forward thinking
entrepreneurs can take advantage. Now is the time, and I am very excited
to know, that there are courageous Oklahomans that are taking up this
standard and charging forward.
As reported in The
Chelsea Reporter on November 24th 2005, David Allen and Scott
Williams, two men that started making bio-diesel by recycling used cooking
oil have opened Oklahoma’s first bio-diesel facility at Chelsea’s
Industrial Park. Allen and Williams’ new company will now turn soybean
oil into bio-diesel at a rate of 750,000 gallons annually to start but
expect to produce up to 30 million gallons annually and employ over 100
people. Dean Houghton’s article, “Power the Future”, published in The
Furrow December 2005, highlights agriculture’s contribution to the new
wave of energies, touching on wind, bio-fuels, hydrogen generation and
fuel cells. There is also exciting research being done at some Oklahoma
universities that hold great potential for our future energy needs.
Oklahoma is poised on the edge of a great expansion. I know we can become
the world leader in breaking the stranglehold that all big oil companies,
both foreign and domestic have on America.
The only obstacle I
see in the way of this exciting future is the hammer of Oklahoma’s trial
lawyers, as evidenced in the voracity by which they have pursued Oklahoma
industries. The trial lawyers have found a loop hole that allows them to
absorb the lion’s share of any settlement. The most recent example is the
$0 Tulsa received from the 7.4 million dollar settlement with the chicken
industry, case # 01-cv-900 Northern Federal District of Oklahoma, to solve
the perceived problem. In actuality, Tulsa did receive $200,000 which
reimbursed the city for associated legal costs, leaving 7.2 million for
the trial lawyers. Without true lawsuit reform, every industry is at the
mercy of the trial lawyers.
These are very
exciting times we live in. Oklahoma can and should be an example to the
world. You can do your part. Look at the contributions to the people
that are asking for your vote. Do not just listen to their speeches; find
out who they are really working for. Is it you and your family or is it
the trial lawyers.

