A "gusher." They were actually very dangerous and not a good thing (en.wikipedia.org).
by Dan Burns
Jun 20, 2022, 7:30 AM

Big Oil greedhead psychology

Most Americans know that plain old price-gouging, via collusion and market manipulation, is what’s driving most current inflation, especially gas prices. Here’s my analysis of some of the psychology behind it all. As always I make no claim to being in possession of complete, final, and absolute truth, on any subject whatsoever. This is just my take.

1. Obviously, raw, unmitigated greed is fundamental. But it’s a mistake to think that’s what’s primarily, consciously going on in the heads of the Big Oil bosses. Rather, they justify their despicable behavior, to themselves and to one another, via motivated reasoning like “letting the markets work” and “fulfilling our obligations to our shareholders.” In fact, in their own minds, they’re great, brilliant people. Beyond ridiculous, I know, but there it is.

(Incidentally, I snitched the term “greedheads” from the work of the late Dr. Hunter S. Thompson. I looked around a little, but couldn’t find out whether he actually coined the term. He may have.)

2. What the rich man really wants in D.C. is divided governance. It creates gridlock and no chance of changes to a system that is rigged to ever-worsening extremes for protecting and aggrandizing their unearned privilege. (The only notable ability I’ve noticed in most big-time corporate bosses, much beyond the norm, is a good innate feel for, at any given time, which backs to stab and which butts to kiss.) The plutocrats really, really want Republicans to win at least one part of Congress this year, hopefully by a lot, and their inflation-mongering is helping to that end.

3. I implied in #1 that they’re using motivated reasoning to disguise their real motives from themselves and each other. That’s not entirely true. Big Filthy Fossil Fuels has been taking a lot of heat, all of it deserved, for lying about climate change and so forth. They’re pissed about that (if you haven’t noticed, they tend to be a whiny, self-absorbed bunch), and they’re getting off on sticking it to the public in general, on that basis.

The head honchos at Big Oil figure they have us all by the ‘nads, and there’s nothing we can do about it. They’re not going to change that belief unless they’re absolutely forced to do so.

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