Gas prices expected to keep weighing on consumers

Investor's Business Dailly ^ | 6 September 2005 | Stephanie I. Cohen

[Racehorse]

Both Democrats and Republicans on the [Senate Energy and Natural Resources Committee] panel expressed concern that fuel prices are choking U.S. consumers. [. . .] Sen. Lisa Murkowski, R-Alaska, said $100 a barrel oil is "not so far out of the realm of possibility," and asked "is that something this country can sustain?" [. . .] Sen. Gordon Smith, R-Ore., said he anticipates "we're going to find many instances of manipulation and fraud." Sen. Pete Domenici, R-N.M., the chairman of the committee, said the panel is prepared to call on oil-company executives to explain rising fuel costs if there is evidence of price gouging. "Are oil companies acting like responsible corporate citizens?" Domenici asked. "There's some concern and there are some questions that need to be answered." If oil companies are inflating prices, "they will find themselves in those witness chairs where they will be held accountable," Domenici said, although he noted that Federal Trade Commission, and not Congress, has authority to investigate consumer gouging. The Department of Justice also has authority to investigate anticompetitive behavior.

[Racehorse]

Wait till Winter sets in . . .

[planekT]

Sen. Gordon Smith, R-Ore., said he anticipates "we're going to find many instances of manipulation and fraud." Sen. Pete Domenici, R-N.M., the chairman of the committee, said the panel is prepared to call on oil-company executives to explain rising fuel costs if there is evidence of price gouging. "Are oil companies acting like responsible corporate citizens?" Domenici asked.

Oh good grief. A witch hunt for capitalists. WTF is this Russia?

[Hank Rearden]

A witch hunt for capitalists. WTF is this Russia?

No. The R stands for Republican, not Russia. Interesting though, ain't it?

[planekT]

...The R stands for Republican, not Russia. Interesting though, ain't it? ...

Getting harder to tell the difference.

[Cobra64]

I would suggest that we allow the free market settle these issues; unless some folks think we should revert back to the Carter era.

relax

[Eastbound]

""Are oil companies acting like responsible corporate citizens?" Domenici asked."

Of course they are. Aren't they expected to be super-greedy when the opportunity presents itself? Sure they are.

O'Reilly had an interesting piece on the profit-takers tonight. He's still pushing folks to pass gas when they pass the gas stations and refuse to buy on Sundays.

Don't make any difference to me. I haven't been able to buy gas for months.

This winter I'll probably chop my house down, a room at a time and use it for firewood. I'll be home free if I can last until spring. Then I'll rebuild, using all those rusted-out cars and trucks that ran out of gas and abandoned along the highways for the walls of my new house.

[upchuck]

Not to worry guyz. Steve Forbes sez $35/barrel oil is right around the corner.

[planekT]

Good lord, you really think it will come to that???
LOL.

Bill's got a plan for everything. He's been a border hawk forever, but he wants to do it strictly with military presence.

What we need is a wall to stop the flow of traffic. Then deportation would become way more effective.

Walls don't eat. He hasn't figured that one out yet. Sure, a massive military presence would stop it, but it's not the only solution or the most efficient solution to the problem. He doesn't see that a combination of solutions would be effective and efficient.

btw, if you do build that house out of abandoned vehicles, be sure and post a pic. ;-)

[Eastbound]

"btw, if you do build that house out of abandoned vehicles, be sure and post a pic. ;-)"

Will do. I've been collecting old junkers since the Great Depression in anticipation of this day.
(Stolen)

It's going to be hard to dispose of my home to live
in a junk yard. Here's my present digs:

[ukman]

If this is the case, oil companies would be very ill advised to build new refineries or invest in expensive alternatives like oil sands etc. Oil plunging to those prices would severely damage the industry, surely?