Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
WASHINGTON (Reuters) - Five U.S. oil company executives set to testify on Capitol Hill on Tuesday about soaring gasoline prices and record industry profits will likely offer a common defense: It's not our fault.
Oil execs to take heat from lawmakers Tuesday: Financial News - Yahoo! Finance (broken link)
Isn't this amazing. They're going to ask the oil executives why the companies made record profits? I'll save them the trouble. Oil is popular and somewhat scarce.
I'm glad they made record profits, and everyone else should be as well.
Any company willing to move equipment half way around the world to poke holes in the ground, pump the oil out, take it to a refinery, transport it to all those gas stations and sell it to me so cheap deserves to make money.
I hope one of those guys asks two questions:
1) Why have we allowed the tax per gallon to rise so high that many state and local governments can't function without it?
2) Would you like us to cut our profit and devalue our stocks? I think your voters are our largest shareholders, so will you let them know their retirement funds are going to take a huge hit?
Why don't they drag Hollywood Execs in about the price of movies?
Why don't the drag Gates and Jobs up there and ask about computer crashes?
Simple, they're vote pandering.
Isn't this amazing. They're going to ask the oil executives why the companies made record profits? I'll save them the trouble. Oil is popular and somewhat scarce.
I'm glad they made record profits, and everyone else should be as well.
Any company willing to move equipment half way around the world to poke holes in the ground, pump the oil out, take it to a refinery, transport it to all those gas stations and sell it to me so cheap deserves to make money.
I hope one of those guys asks two questions:
1) Why have we allowed the tax per gallon to rise so high that many state and local governments can't function without it?
2) Would you like us to cut our profit and devalue our stocks? I think your voters are our largest shareholders, so will you let them know their retirement funds are going to take a huge hit?
Why don't they drag Hollywood Execs in about the price of movies?
Why don't the drag Gates and Jobs up there and ask about computer crashes?
Simple, they're vote pandering.
Excellent post, Caution. You deserve 10 rep points.
Location: Moose Jaw, in between the Moose's butt and nose.
5,152 posts, read 8,526,495 times
Reputation: 2038
Folks if there is no evidence of rigging these last 7 years, well, explain to me how gas in someparts of the US was under 2 bucks a gallon right before the midterm elections, and shortly after, went up almost 75 cents to a dollar?
The way I see it we have two choices when it comes to what we belive about the price of gas at the pump -- once we remove all the taxes and special regional or seasonal blends from the price.
Choice #1 - There are a secret select few people, both government and private industry, who conspire to increase prices, take the profit and hide the money so the profit never benefits anyone else (i.e. no taxes paid, no goods purchased, no salaries paid, etc)
Choice #2 - All Americans share the blame for the gas price per gallon becuase we:
- allowed the same politicians to stay in office and mess up the market over the last 30 years
- drive too far every day, for any number of reasons
- decided (as a group) not to drill here, not to build new refinery capacity here, and not to allow a nuclear plant (or wind farm, or whatever) in our back yard.
The way I see it, we ain't hit rock bottom yet. When we do, like in WWII or the depression, I hope we'll dig deep, sacrifice, stop all the silly fights, and claw out of the hole we've been digging together. I'd hate to see us like a bucket of crabs (they don't need a lid, they pull each other back in)
I think the first step is admitting we have a problem, not asking executives why they made money. I'm pretty sure that's what executives in publicly-traded companies are supposed to do.
Folks if there is no evidence of rigging these last 7 years, well, explain to me how gas in someparts of the US was under 2 bucks a gallon right before the midterm elections, and shortly after, went up almost 75 cents to a dollar?
The only attempt to ever rig oil prices, was done by Clinton, who campaigned to raise the price of oil and lower the supply so that they can reduce any volitility in the price.
Well you can say he was successful at raising prices, lowering supply, and redicing the volitility in price because it doesnt go down anymore.
Lets also not forget that when Clinton left office, gas was at $1.64 CNN.com - GOP lawmakers blame Clinton administration for high prices at the pump - June 23, 2000 (http://archives.cnn.com/2000/ALLPOLITICS/stories/06/23/gas.prices/index.html - broken link)
This problem has been building up through several administrations, not just the current one.
The price of fuel is part of the reason americans voted for Bush the first time. Gore's own book called for higher price of fuel, "Gore's 1992 book "Earth in the Balance" that calls for raising gas taxes as a means to reduce U.S. dependence on fossil fuels."
Anyone who blames Bush for this, either has a short memory, or their head in the sand.
those republican tax breaks for big oil are coming in hady for making extra profits
WHAT TAX BREAKS? No matter how many times you repeat that they are getting a tax break, unless you can sight some source for it, (something newer then 10-20 years old) its not fact.
Location: Moose Jaw, in between the Moose's butt and nose.
5,152 posts, read 8,526,495 times
Reputation: 2038
Quote:
Originally Posted by pghquest
The only attempt to ever rig oil prices, was done by Clinton, who campaigned to raise the price of oil and lower the supply so that they can reduce any volitility in the price.
Well you can say he was successful at raising prices, lowering supply, and redicing the volitility in price because it doesnt go down anymore.
Lets also not forget that when Clinton left office, gas was at $1.64 CNN.com - GOP lawmakers blame Clinton administration for high prices at the pump - June 23, 2000 (http://archives.cnn.com/2000/ALLPOLITICS/stories/06/23/gas.prices/index.html - broken link)
This problem has been building up through several administrations, not just the current one.
The price of fuel is part of the reason americans voted for Bush the first time. Gore's own book called for higher price of fuel, "Gore's 1992 book "Earth in the Balance" that calls for raising gas taxes as a means to reduce U.S. dependence on fossil fuels."
Anyone who blames Bush for this, either has a short memory, or their head in the sand.
Again.........
Did Clinton (or anyother president, even Reagan) have gas prices double under his watch?
You did not answer that question.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
