Shameless Gasoline Windfalls

Did you know that lower oil prices are almost never passed on fairly to consumers at the pump? That oil companies sacrifice their own refineries? That they pay no taxes, manipulate information and collude to avoid competition?Every year, the announcement of profits by oil companies, especially Total, provokes reactions of admiration or indignation from French observers, experts and politicians. But what are these figures hiding? Thomas Porcher reveals eight scandalous practices by the gasoline giants. His aim—to encourage collective denunciation and vigilance, which alone will lead governments to act for the good of citizens. Thomas Porcher caused a stir in the French government in 2011 with his study on the impact of lower oil prices at the pump. He has a PhD in economics, teaches commodity markets at ESG-MS and lectures in international economics at Paris-Descartes University. An oil specialist, he has worked for the European Union and oil companies.