The Begrudging Movement of Big Oil and Pharma

It’s amazing to me, during this election year, just how much we’ve seen from energy companies, pharmaceuticals, and their lobbyists. It’s amazing, as we’ve seen little to anything from them over the past seven hears; however, one can tell there is currently a confluence of factors changing the tide on them. With Energy, we have the outrageous price of petroleum, predicated not off of supply but a substantial increase in demand from those in Asia. As such, companies like Exxon, Chevron, et al are airing advertisements encouraging “conservation,” particularly on items tangential to petroleum’s issues (e.g. one’s thermostat).

Like Oil, there is Montel Williams on commercials on my TV in the morning, talking about PPA busses, “From the Aloha State of Hawaii; To the Free State of Maryland,” which along with another similar industry-sponsored program, providing points like “with my savings I buy shoes.” In both cases, these two industries feel a change in tide, respective to their business models. Only in the face of a potential for change are they now budging to become more consumer friendly and environmentally conscious. Is that not amazing?

Why have we not heard anything for the past seven years? Why now? What is it that’s moved these two industries to react? Is it out of the good of their hearts?