Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Controversial Ethical Oil TV Ad

This ad has been getting lots of attention since the Kingdom of Saudi Arabia tried to have it banned from Canadian television. I'm posting it here because:

a) You'd have to watch many hours of television to see it (and it was running on the Oprah Winfrey Network - why torture yourself guys?)

b) I'm in Palm Springs without access to Canadian television (which I watch very little of anyways.)

Fortunately, there's lots of free publicity for the spot now so the YouTube hits will exceed EthicalOil.org's wildest dreams.

When oil supplies were tight, it was easier to look the other way. Saudi Arabia used to have the power to put marginal high cost oil producers out of business. That power is slowly eroding and now North Americans are more comfortable probing into the Kingdom's business. We in the West have been quite selective about enforcing human rights.  Libya's Muammar Gaddafi didn't have enough oil to scare off foreign intervention. 

As an aside, the unrealiability of oil imports from Venezuela to Texas refineries built to refine heavy crude feedstock is a major impetus for the Keystone XL Pipeline. Dictators vs democracy?