[libertarianPA]

Welcome to the new America comrades. Or should I say "A-Marx-ica"? Let's just replace the 50 stars on the flag with a hammer and sickle

One more reason the Republicans aren't getting my vote next year. They've totally sold out to the same voters as the Dems.

Let this be a lesson - don't be too successful, or you'll have to answer to your government.

[NRA1995]

Well, if anyone knows about gouging the public, it's a politician....the proof is in your income tax bill....

[Eric in the Ozarks]

Chuck Grassley must want to build another rain forrest in Coralville...

[jveritas]

I do not think the Republicans got your vote before and hence your username. Who are you trying to fool?

[BenLurkin]

I won't belabor you with the "throw your vote away" explanation. You've heard it before and no doubt will again today.

But, everyone needs to recoginze that the future of gas availability wil depend on the ability of XOM and others to reinvest in new oil rigs and refineries.

[jeremiah]

Energy is a monopoly, it is prudent and right that there be regulation of the industry.

[HOTTIEBOY]

Capitalism works.

[JustAnotherOkie]

The execs should have presented the back door per gallon tax revenue increases compared to their per gallon profits.

[mysterio]

Government needs to get out of the way and let them build some refineries. And then if they don't build the refineries or conspire to keep enough closed to keep the price high, then throw the book at them. The posturing they are doing now is ridiculous. If government actually cared, they would cut the fuel taxes and remove restrictions.

[BenLurkin]

I won't belabor you with the "throw your vote away" explanation. You've heard it before and no doubt will again today.

But, everyone needs to recoginze that the future of gas availability wil depend on the ability of XOM and others to reinvest in new oil rigs and refineries.

[Eagles Talon IV]

Bringing the execs in to have them explain their profit margins are not only reasonable compared to other industries but are considerably lower then many, is not a bad idea. Had the Rep killed the proposal to have these people testify then the resulting cacophony of wails from the left that Rep are in the pockets of BIG BUSINESS would have gone on for months and months.

Of course trying to explain the difference between profit margins and gross income to a liberal is tantamount to trying to explain quantum physics to a poodle.

[sausageseller]

"The oil companies owe the country an explanation," he said.

Is that because the "country" is ignorant of "capitalism" , Mr. Petey?

[DustyMoment]

Ummmm, let's see . . . . who would you rather work for, a company that has and makes a profit from business operations, or a New Orleans refugee from Hurricane Katrina?





Take your time, I know it's a tough question.

[MEGoody]

Just curious - does anyone know what the profit margin is for the oil companies? The numbers sound huge, but that doesn't take into account the total revenue and the total outflow for expenses. If their profit margin is, say 7%, that is far below what most companies make.

[dalereed]

their % of profit on their investment is extremely low, how many billions they make isn't relative.

With their low % they should close the businesses, public need and demand don't count.

[Wiseghy]

Story on PBS radio yesterday said that Aramco is 100x+ the size of any American oil, and the OPEC sets prices in any case, not domestic oils, who merely ship, refine and distribute.

Amazing that PBS is now saying this.

[Tares]

ExxonMobil, the worlds' largest privately owned oil company

I thought shares of ExxonMobil are traded on a public stock exchange, accessable to all.

[groanup]

Together the companies earned more than $25 billion in profits

Since the corportate income tax rate is around 30% I have an idea. The 7.5 billion windfall tax that the government just earned should be returned to the consumer.

[BJClinton]

the Republicans aren't getting my vote next year

LOL. The GOP never got your vote, troll.

[Extremely Extreme Extremist]

The oil company chairmen should have - in a condescending tone resembling a kindergarten teacher admonishing a child - explained the laws of economics to the RINOs and Rats, explained that government regulations and taxes also compounded the problem, and handed out copies of Atlas Shrugged.

[Chode]

what about the big OIL FUTURES TRADERS???