Archer-Daniels-Midland .... your new 'oil' company? (very pic heavy)

[Stinky The Clown]

The new "Oil Baron" for the 21st century?






http://images.amazon.com/images/P/1568582188.01._BO2,204,203,200_PIsitb-dp-500-arrow,TopRight,45,-64_AA240_SH20_SCLZZZZZZZ_.jpg

http://www.pbs.org/newshour/bb/business/october96/adm_10-15.html



PBS - October 15, 1996

In what has amounted to the largest anti-trust fine in US history, the Archer Daniels Midland Company has agreed to pay $100 million dollars for fixing the price of two corn based products. The company, now immune from further investigation, plans to help the Department of Justice with other inquiries, which may include investigations into the practices at other firms. A background report follows a discussion with a legal expert, and a reporter who has been closely following the case.

CHARLAYNE HUNTER-GAULT: Archer Daniels Midland, one of the nation's largest agricultural producers pleaded guilty to price fixing, and agreed to pay $100 million in Archer Daniels Midlandfines, the largest criminal antitrust penalty ever. ADM, which calls itself the supermarket to the world, is a $13 billion grain company which produces corn syrup, corn-based fuel, and food and animal feed supplements used in thousands of products. ADM has more processing capacity than any other company in the world. As part of the plea agreement, ADM admitted to price fixing in two of its major products, Lysine used in livestock feed, and citric acid found in soft drinks and detergents.

Archer Daniels MidlandThe federal investigation of ADM began four years ago and was aided by an executive who provided agents with audio and videotapes of meetings where price fixing was allegedly discussed. Justice Department and law enforcement officials briefed reporters about the case at a Washington news conference today.

JOEL KLEIN, Assistant Attorney General: This is not simply the largest fine in the history of antitrust enforcement. It is a whole different order of magnitude. This is close to seven times the previous high fine that we have ever achieved. That's why we think this is a very big and important day for us in the antitrust enforcement field. Now, we insisted on this fine for one reason. We thought it was commensurate with the crimes that we had discovered that Archer Daniels Midland committed here, and based on the cooperation that they have pledged to give us.

<more at link, above>

G. Allen Andreas
Chief Executive Officer
Archer-Daniels-Midland Company

In 2004, G. Allen Andreas raked in $13,663,274 in total compensation including stock option grants* from Archer-Daniels-Midland Company.

From previous years' stock option grants, the Archer-Daniels-Midland Company executive cashed out $203,958 in stock option exercises.

And G. Allen Andreas has another $20,254,987 in unexercised stock options from previous years.

http://www.aflcio.org/corporatewatch/paywatch/ceou/database.cfm?tkr=ADM&pg=1

Now .... very interesting political donations from him and his wife, per OpenSecrets.org .......
http://www.opensecrets.org/indivs/search.asp?NumOfThou=0&txtName=Andreas&txtState=IL&txtZip=&txtEmploy=&txtCand=&txt2006=Y&txt2004=Y&txt2002=Y&Order=N
Multiples to Max Cleland, Tom Harkin, Libby Dole, The Illinois Democratic Party, Tom Harkin, Chuck Grassley ..... and Ceaser Disgustus.

[Jane Austin]

1. I think one of the advantages of ethanol is that local farmer cooperatives

can distill their own ethanol. Dairy farmers do it and so do orange juice farmers.

The facilities can be much closer to the ultimate consumer that a giant refinery. That in itself makes it more environmentally friendly.

[Stinky The Clown]

2. It is also just plain better and more efficient .....

In fact, some Univ of Mich(?) science-type-guy was on AAR (Schultz) this afternoon. He said that we can put 20 times the number of btus on the road, ready to roll by using oil to make ethanol than to put oil directly on the road.

If true, that would mean, for every barrel we import now solely for car fuel, we would need only 1/20 if we made a 100% switch to ethanol (which isn't really possible right now). In the short term, if we had the means to create methanol on a large scale basis, we'd see a significant reduction in the need for immported oil.

[HereSince1628]

3. I expect diesel and gasoline production from coal within a few years.

Not only that but Bush's unitary executive master model, Adolf Hitler, also used it for fuel production during WWII.