Standard Oil Redux; Court Strengthens Workers Rights

Anadarko Petroleum today acquired Kerr-McGee and Western Gas, making it now the largest “independent” energy company in the United States. It is publicly traded on the New York Stock Exchange, with its total shares worth upward of $458 million. Kerr-McGee has a strong natural gas operation centering in the Rocky Mountain region. This acquisition makes the number of players in the energy field that many fewer, and makes the notion of “competition” in the industry that much more ludicrous. What’s more, since Anadarko’s focus is on the United States, I’m sure their extra strength will be used as increased bullying power to convince Congress to open the Alaskan National Wildlife Refuge for oil drilling. (Nothing like turning a “refuge” into anything but.)

In better news, the Supreme Court yesterday unanimously ruled in favor of a female forklift driver who lost her job after making a sexual harassment claim. It is a clear and much-needed victory for workers rights.