Imagine that a tobacco company suddenly announced a $60B acquisition that would consolidate power in the market, increase profits for unquestionably dangerous corporations, and lead to further human misery.
You'd wonder how governments could allow such a deal to go through. You'd wonder why there are no provisions in antitrust laws to protect the public good beyond simple market monopoly. You'd wonder why, knowing what we know about tobacco and the harm it causes and the lies these companies have told, what possible justification beyond raw, rapacious capitalism, there could be for such a move.
And you'd be right to wonder.
Well it turns out the deal is happening, except it isn't tobacco; it's an industry several orders of magnitude more dangerous.
https://www.reuters.com/markets/deals/how-stars-aligned-exxons-60-billion-deal-with-pioneer-2023-10-12/
Taggart :donor: /
npub1ft…k87qx
2023-10-12 15:03:27
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npub1ftansv8hchdst4vngsu808mrc0k3gqd2qw3wkrxrekn5xce6afss2k87qxSeen on
wss://relay.noswhere.comPublished at
2023-10-12 15:03:27Event JSON
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"content": "Imagine that a tobacco company suddenly announced a $60B acquisition that would consolidate power in the market, increase profits for unquestionably dangerous corporations, and lead to further human misery. \n\nYou'd wonder how governments could allow such a deal to go through. You'd wonder why there are no provisions in antitrust laws to protect the public good beyond simple market monopoly. You'd wonder why, knowing what we know about tobacco and the harm it causes and the lies these companies have told, what possible justification beyond raw, rapacious capitalism, there could be for such a move.\n\nAnd you'd be right to wonder.\n\nWell it turns out the deal is happening, except it isn't tobacco; it's an industry several orders of magnitude more dangerous. \n\nhttps://www.reuters.com/markets/deals/how-stars-aligned-exxons-60-billion-deal-with-pioneer-2023-10-12/",
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