Tuesday, May 20, 2008

Oil Companies: 21st Century Crooks

Associated Gasoline Station, San Jose, California

Associated Oil Company was founded in 1915 by a group of oil well entrepeneurs. They built a pipeline that ended in Martinez, California where they built a refinery. Afterwards, Associated Oil Company spread all over the west coast and continued on to the Hawaiian Islands.

In 1934 an indictmen was brought down by a Federal grand jury in Los Angeles for starting a price war which lowered gas prices to 7-1/2 cents per gallon. This resulted in Associated Oil Company's top executives arrested.

As gas prices move toward $4 a gallon, the current oil company executives have no fear of being prosecuted for bringing the price of gas down. Well, so much for progress...and only in America!

Photo courtesy of V Rogers

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