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|Subject: Corporation vs. corporation||Date: 1/12/2013 12:40 PM|
|Author: fleg9bo||Number: 666030 of 753411|
A newly-formed organization called America's Energy Advantage is a group of U.S. manufacturers and chemical companies that want to restrict the ability of U.S. oil and gas companies to export natural gas. In classic rent-seeking/protectionist behavior, U.S. companies like Dow Chemical and Alcoa are devoting resources to influence public opinion and the political process, partly by suggesting that they are concerned about issues like national energy security and the public interest... these companies are really trying to use the power of the government to protect or increase their profits, which will be greatly enhanced if they can use the coercive force of the federal government to prevent or restrict the ability of private energy companies to sell their products (natural gas) overseas.
...almost 68% of Dow Chemical's $60 billion in global sales in 2011 were outside the U.S., and Alcoa's sales outside the U.S. represented more than half of its $25 billion in global sales in 2011.
So here in a stunning display of hypocrisy, you have two U.S. companies that both depend on foreign markets for more than half of their sales, and yet both of these transnational companies are attempting to place restrictions on the ability of other U.S. companies to take advantage of the same global markets that are providing them with significant sales and profits.
The article doesn't mention GE, but I'm sure it's doing the same thing.
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