Tag: big oil
A major class action lawsuit was recently filed in a District Court and pits plaintiffs in Dimock, PA against big oil and gas. This case could be key in determining whether "frackers," who contaminate drinking water, can be held accountable under federal law.
While the Standard Oil Trust fixed prices, set production quotas and ruthlessly forced out competitors, the Organization of the Petroleum Exporting Countries has control of the industry. If history repeats itself, will the oil industry respond with market manipulation?
Big Coal and Big Oil are dead men walking. So if you have hopes in retiring on them, think again. Stocks in these companies will get you nowhere—they're outmoded and prone to crashing. It's time to put your securities elsewhere.