Big Oil Flamed Again(Worthless Blowhard Senators at it again)

Motley Fool ^ | Mar 14, 2006 | Seth Jayson

[JustaCowgirl]

Our favorite mouthy, posturing Senators are posturing for the adoring press and their fans again. How dare you capitalists make a profit, it's obscene! Bunch of worthless blowhards.

I'm sure Teddy Kennedy was present and outraged, that is unless he's under the table dead drunk during the proceedings.

[.cnI redruM]

I think the oil companies should really act like Teddy Kennedy accuses them of behaving. Tell Fat Teddy that he can't drive drunk for a month, because were not selling any gasoline, anywhere in the continental US for 45 days. Then, after 45 days, and assuming that Senator Kennedy apologized in a properly contrite manner, they would make oil available to the US economy at the rate that the supply-starved market would then bear.

[Smokin' Joe]

Well, now, the buttwipes in Congress have to try to loot these guys before Chavez does, otherwise they'd be upstaged by a second-rate third world tinpot Socialist, and no self-respecting first-world Socialist could allow that.

See DJ Venezuela To Charge Oil Majors 50% Tax On Orinoco Crude

Of this group, (BP (NYSE: BP), ConocoPhillips (NYSE: COP), ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), Royal Dutch Shell, and Valero (NYSE: VLO)), Valero and Royal Dutch Shell won't feel the bite because they are not involved.

[JustaCowgirl]

Big Oil is to the U.S. left as Israel is to the Middle East left--the evil demon under the bed useful for threatening their 'children.' (Children = constituent mob looking for somebody or something to blame for their self-induced problems.)

[CPOSharky]

Governments continue to encourage gas gluttony by building miles of cheap roads [they ain't cheap] (on borrowed funds) while alternative transport withers.[no return on investment] At the same time, they refuse to lift a finger to demand higher gas mileage from automakers.[Oh, really?]

Other than that, pretty good.

[eyedigress]

Does the timing of an increase in price have anything to do with the mandated fuel mixtures that go into effect every March thru October? Does this reduce overall supply in any given area? Are there roughly 60 DIFFERENT blends of gas in the United States? Just Wondering......

[diggerwillow]

Where do the Democratic Senators of the oil states stand on these attacks? Are their any? Are they speaking up for their state's economies?

[kjam22]

The good news is that I invested heavily in some of these companies. Heavily in the E&P sector a couple of years ago. For the kind of profits that I've made, I gladly accept my added fuel costs.

[VOYAGER]

"Company X earned X billion in 2005," comes the refrain.

Most people when they pass gas they do it the normal way, out their rear end, but these guys and gals in the Congress do it out of their mouths just for the ears of their constituents!

Arrogant hypocrites!

[freeperfromnj]

Wall Street firms are recording record profits. Will they go after them too? The current state of the Senate is a disgrace.

[mewzilla]

How dare you capitalists make a profit, it's obscene!

Not just the capitalists. Anyone who gets a chance should check out these senators' financials. A lot of these pols, Teddy included, are making money off Big Oil...

[Semper Paratus]

When are they going to call in the executives and actors for "Big Hollwood" making obscene profits with piss poor product?

[JustaCowgirl]

Nice summary of the situation, both of you. Capitalism is apparently no longer to be encouraged in any form or fashion by the Democratic Party in the U.S.

They should all go down and join Hugo Chavez and Jimmah Carter and be good Socialists in Venezuela.

[JustaCowgirl]

Absolutely. How many of these posturing idiots have Buy orders for these companies in with their brokers while they're talking.

And let's hear from Jay Rockefeller on this subject while we're at it.

[Youngman442002]

Just as Goldman Sachs comes out with huge profits....and Microsoft has huge profits...and a movie star has huge profits.....but BIG OIL is bad

[Alberta's Child]

In the hot seat were execs from BP (NYSE: BP), ConocoPhillips (NYSE: COP), ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), Royal Dutch Shell, and Valero (NYSE: VLO).

The funny thing about this is that people who know the oil business look at these companies and laugh at the silly notion that they are major players in the industry from an prospective investor's standpoint.

[Eric in the Ozarks]

Ditto. Valero and Kinder Morgan Energy partners.

[JustaCowgirl]

"Just as Goldman Sachs comes out with huge profits....and Microsoft has huge profits...and a movie star has huge profits.....but BIG OIL is bad"

And how about Google and Yahoo? Oh wait, they're on the 'correct' side of the political fence. Never mind.

[mewzilla]

www.opensecrets.org has pols' financial reports on file. Folks should check them out. They make interesting reading.

[JustaCowgirl]

I have a sizeable (for me) position in Kinder Morgan Energy partners. Also recommend you look at Magellan Midstream.