Posted on 05/08/2007 2:07:54 PM PDT by Sub-Driver
Democrats slam Big Oil over $3 gasoline prices Tue May 8, 2007 4:46PM EDT
By Tom Doggett
WASHINGTON (Reuters) - The U.S. Senate's top Democrat on Tuesday accused big oil companies of shutting down refineries temporarily to raise gasoline prices and rake in"obscene profits."
Gasoline prices have topped $3 a gallon at service stations across the country because several oil refineries are offline due to maintenance or accidents, reducing gasoline production and making fuel supplies tight.
"It's outrageous ...Isn't it interesting every year about this time, a refinery goes down for repairs," said Senate Democratic Leader Harry Reid of Nevada.
"Is that coincidental? Or is it part of a plan that these multinational, huge companies who are making obscene profits in the tens of billions of dollars -- is this part of their game to keep the profits going?" Reid said.
House Speaker Nancy Pelosi on Tuesday announced seven congressional hearings in coming weeks on soaring energy prices and plans to put together a proposed package of energy bills by July 4 to address the issue.
"With Memorial Day travel and the start of summer driving only a few weeks away, drivers are paying a heavy price for the Bush administration's failure to enact a comprehensive energy strategy," said Pelosi.
"Years of Bush administration policies that have favored Big Oil over the consumers have resulted in record dependence on foreign oil," the California Democrat added.
(Excerpt) Read more at reuters.com ...
Yep. In their most recent quarterly earnings announcement, Exxon-Mobil reported $9.280 billion in Net Income. They also reported total taxes paid of $24.5 billion (Source)
Oh, yeah, I will totally agree that the Ship Channel is THE least scenic part of Houston.
I wish we could schedule you some time with the Houston-area FReepers! They’re some of my best real-life friends and a delight to hang out with, and they know all the best dives.
Yeah, like OPEC is going to pay any attention to her. The expression of utter disbelief on the face of the woman Boxer was "interrogating" was priceless. I don't know if Boxer was drunk on alcohol but she was surely drunk on the sound of her own voice.
Yes, OPEC manipulates supply. But Exxon is not a government, with the prerogatives of a government. If some of the Big Oil companies were conspiring to fix prices, the Democrats would be all over them.
Remember how the government went after Bill Gates for unfair competition? That would be nothing compared to the rage that the Dems would unleash on Big Oil. It’s their ultimate dream to crush and punish an oil company - they could stand up there on their high horses and bloviate for months, declaring themselves the saviors of America.
To avoid all this, I’d imagine that the oil companies are very careful to avoid even the APPEARANCE of wrongdoing.
“Big Oil” is an easier and safer target than the real culprits... Hedge Fund traders.
LOL I'm a conservative. I can never be grateful for high taxes.
The Democrats must have a perceived crisis to save us from. Hitler ordered the Reichstag fire to blame the Jews; the Democrats will simply blame Big Oil for whatever ills they can think of.
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