Senators grill oil executives over profits

On a day oil prices leaped to record highs, senators lined up Big Oil's biggest executives and pummeled them with complaints that they're pretending to be "hapless victims" while raking in record profits.

[Fools]

This investigation has to be the biggest travesty in the history of this country. Crooked, low life politicians investigating the industry that is lining their pockets with hefty profits. Question 1. "Mr Oil executive, why is gas so high?" Answer. JimBob, excuse me I mean senator, you made me promise to contribute to your campaign fund, and your retirement and your kids education, your wifes jewelry fund, etc. etc. etc.

[jabna]

Fools wrote:

This investigation has to be the biggest travesty in the history of this country. Crooked, low life politicians investigating the industry that is lining their pockets with hefty profits. Question 1. "Mr Oil executive, why is gas so high?" Answer. JimBob, excuse me I mean senator, you made me promise to contribute to your campaign fund, and your retirement and your kids education, your wifes jewelry fund, etc. etc. etc.

You also forgot that millions of people are driving around in their 5000 pound SUV's alone getting 18 miles to a gal of gas. Now China and India are also doing what so the supply of world wide gas is tight.

[Believer]

The same idiots that insist we don't take advantage of of our supplies blast the oil companies for making money. The oil companies would take that money and drill for our own oil if they were allowed. Absolutely ludicrous.

[Advisor]

We need viable alternatives that are not controlled by the monopolistic oil/ fuel/ gas (foreign) industry.

But has DC got the guts?

[Amber]

Does anyone in the Senate understand capitalism?

Companies (any company) works for the shareholders NOT the gov't. This is what, the third? investigation into gouging in the past two years. What is the outcome.... higher prices.

Just a bunch of political hacks who want to see themselves on TV.. Oh yea... the TV companies make 30% profit margins while the oil companies make less than 10

[Alz]

See this:

http://www.powerlineblog.com/archives2/2008/0...

The Democrats are jerks. They are directly responsible for limiting our ability to look for oil where we think it is, they attack us on drilling for oil where we know it is, and they attack us on refining the oil that we have.

At every step of the way, it's the Democrats that are the problems.

The oil companies are making 10% profits - not obscene and Exxon alone spends about a billion a day.

These high prices are mostly about supply and demand. It's a lot easier for the speculators when there isn't enough to go around.

Focus on what the Democrats have done to our ability to supply ourselves.

I have abject contempt for the Democrats on energy policy because they have been setting the stage for this for many years now.

[Alz]

Advisor wrote:

We need viable alternatives that are not controlled by the monopolistic oil/ fuel/ gas (foreign) industry.
But has DC got the guts?

See this:

"Who Is Really Responsible For The High Prices You Pay For Gasoline?"

Here:
http://www.ibdeditorials.com/IBDArticles.aspx...

[Range Rover]

jabna wrote:

<quoted text>You also forgot that millions of people are driving around in their 5000 pound SUV's alone getting 18 miles to a gal of gas. Now China and India are also doing what so the supply of world wide gas is tight.

Jahree say,
"No SUV"
Him tree hugger
with little bugger.

[Pbear]

These senators are the same people who have or will spend over 1,000,000,000.00 on the presidental election.

Exxon is in the business to make money. I would be willing to bet that their profit is not much large percentage wise than previous profits. They are spend billions of dollars looking for oil and gas, undating refinerys and paying employees.
Just for your info some wells cost more than some countries have. Example I know for a fact that Conoco recently drilled a well inthe GOM for a cool 100,000,000.00 USD. No this is not a typo 100 million dollars and it was a dry hole. No oil or gas. So if they are risking that kind of money they deserve to make a big profit. Yes if that well had struck oil the cost to drill would have been nothing to them. But the business of exploring for oil and gas is very very risky and expensive. You know during the bad times the oil companies were losing money and no one cared. Now if it was a car company make big profits people would be happen and would be saying that the Bosses there derserved the big bonuses.

One last comment, the oil companies do not set the price on oil. The markets in new York, London Hong Kong set the price. Also the oil companies do not control the flow of oil. Everywhere in the world the goverments control the oil, only in America is this not the case. Yes it hurts to buy gas but a lot of the money from oil goes to the land owner in the form of royaltys and to the States in the form of well head taxes(12.5%+ of every dollar). Also the weak dollar is as much a cause for the current high price of oil. If the dollar was tronger the price would be lower, like about 75-85.00/barrel.

[Ray Pairan Jr]

The 'free market' is an illusion a very effective propaganda spewed across the globe extolling the precepts from the gospel of the "The Free Market" preached by the Economic ministers of the faith.

No more interpreting of illusion is necessary. It's now time for action!

Review my articles:
A Green Future for Our Nation
Benefits of Nationalized Oil Industry
Nationalize the Oil Companies
Economic Society

At--> http://structuraleconissues.blogspot.com

For a better understanding of what where facing.

It is now time to make certain that everyone understands the truth, solutions, and what will happen if we fail to act now.

Ray Pairan Jr.

[Ray Pairan Jr]

The 'free market' is an illusion a very effective propaganda spewed across the globe extolling the precepts from the gospel of the "The Free Market" preached by the Economic ministers of the faith.

No more interpreting of illusion is necessary. It's now time for action!

Review my articles:
A Green Future for Our Nation
Benefits of Nationalized Oil Industry
Nationalize the Oil Companies
Economic Society

At--> http://structuraleconissues.blogspot.com

For a better understanding of what where facing.

It is now time to make certain that everyone understands the truth, solutions, and what will happen if we fail to act now.

Ray Pairan Jr.

[Alz]

Ray Pairan Jr wrote:

The 'free market' is an illusion a very effective propaganda spewed across the globe extolling the precepts from the gospel of the "The Free Market" preached by the Economic ministers of the faith.
No more interpreting of illusion is necessary. It's now time for action!
Review my articles:
A Green Future for Our Nation
Benefits of Nationalized Oil Industry
Nationalize the Oil Companies
Economic Society
At--> http://structuraleconissues.blogspot.com
For a better understanding of what where facing.
It is now time to make certain that everyone understands the truth, solutions, and what will happen if we fail to act now.
Ray Pairan Jr.

Ray, that's all Socialist crap. Name me a country where Socialism works. Wherever Socialism is tried, people suffer and they try to escape.

So when people try to push overt Socialism on us (you) or stealth Socialism (Democrats and Modern Liberals), we all should push back.

I know there is a Utopian vision built around Socialism, but it doesn't work for people - meaning you and I and everyone else.

The best system invented - but not perfect - is Democratic Capitalism. People like Democratic Capitalism and they don't like Socialism.

If it's not too much to ask, please evolve.

[Advisor]

Alz wrote:

<quoted text>
See this:
"Who Is Really Responsible For The High Prices You Pay For Gasoline?"
Here:
http://www.ibdeditorials.com/IBDArticles.aspx...

There are many reasons why; however, for the most part they all point back to Washington.

[Alz]

Advisor wrote:

<quoted text>
There are many reasons why; however, for the most part they all point back to Washington.

Yes, but specifically the Democrats.

[Advisor]

Alz wrote:

<quoted text>
Yes, but specifically the Democrats.

Republicans - Democrats (Bush, Clinton, etc.)

Trust someone who knows...

It doesn't matter which side of the aisle they are on:

they both get paid by the same industries.