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Posted on 05/29/2011 2:40:04 PM PDT by lowbridge
New York Sen. Charles Schumer wants the government to investigate U.S. oil refiners' skyrocketing profits, which he said are to blame for high gas prices.
"Something is rotten," said the Democrat, speaking today at a gas station on Manhattan's West Side.
He said refiners' profits have more than doubled since last year. Meanwhile, the price of unleaded gas went up by almost 12 percent in just the two weeks ending May 6, topping $4 a gallon in New York.
The senator said he believes refiners may be fixing prices by cutting back on stockpiles — by keeping refining capacities to only 81 percent and through exports that diminish domestic availability.
In a letter to the Federal Trade Commission, Schumer demanded an investigation into record profits by major refiners.
(Excerpt) Read more at nypost.com ...
How about investigating multimillion dollar sports players salaries, especially the NBA, which make the ticket and hot dog prices so outrageous?
Why don’t we investigate why so many congressman end their political careers as millionaires when they weren’t millionaires to begin with?
AWESOME post there.
Can’t be stressed enough.
The oil companies EARN about 7 cents profit per gallon after all the up front costs of exploring, drilling, capturing, refining, marketing and transporting that oil.
The govt forces the oil companies to be tax collectors at a rate of 48 cents and up.
Saw earlier where some freepers were putting post it notes on gas pumps to remind customers of who causes the high gas prices. I am going to start putting post its on the pump with these figures and at the bottom, “who is the profiteer here?”
Bet even schumer doesn’t even know this and couldn’t comprehend the tax/profit difference if he was told of it.
Schumer's 2009 Personal Financial Disclosure Form
Some interesting reading there.
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All the flag waving rallies are fine but the content is typically the same; just a different day with different politicians.
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Here's an old one that should have been plastered all over the internet by Conservatives:
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Devious Scumbag Chuckie
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