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 ...
HAsn’t Harry Ried heard of the federal regs that require a different gasoline formulation in the summer? It requires a retooling of all the refineries!
He could put an end to the “shoulder season” and reduce gas prices for everyone!
I'll put up with the higher prices.
Yes, and that class would teach them that the big oil companies, like other companies, will do anything in there power to increase their profits. If they can gouge the consumers and make greater profits by doing so, they will. If they can make greater profits by manipulating the supply, they will. If they can increase their profits by "cooperating" with other companies in setting prices, they will. This is capitalism, pure and simple. Don't expect companies that are making huge, record profits to change the activities that got them there.
We are getting very weary of hearing that. It is not breaking news, nor does it have anything to do with the price of gasoline.
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.
Meanwhile, our food supply is in jeopardy-—but who cares—got to get that gas price down for Memorial Day weekend.
shhhhhhhh, do not mention those facts to Reid.
It was called drilling! It was also called building new refineries. Each one you shot down promising a better more efficiant energy strategy. That was 7 years ago Democraps! This crisis is of your making!
Of course, the Dems will never mention the amount of taxes paid per gallon of gas.
I remember that Gore once proposed $3 a gallon gas, believing that would encourage reduced fuel consumption and also encourage the development of alternate fuel sources.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
So why not lower the insertion (i.e. regulatory) cost of starting an oil company, and allow more competition? More competition would reduce profit margins.
Yeah, but they are damn good demagogues!
You hit the nail on the head. All of these things cumulatively affect the price of gas.
And these enviro. activists are against everything. Everything except solar energy. Even wind energy is problematical to some because it ruins the view and some problems with birds running into the windmills.
Yep.
Actually you uninformed nitwit...they have to shut down to refine the new designer fuels you clowns have mandated for the different driving seasons.
Be grateful for those high taxes. With demand already high, lowering prices right now would only increase consumption.
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