KingofCards

http://hosted.ap.org/dynamic/stories...MPLATE=DEFAULT

Oil Company Execs Defend Huge Profits

By H. JOSEF HEBERT
Associated Press Writer



WASHINGTON (AP) -- The chiefs of five major oil companies defended the industry's huge profits Wednesday at a Senate hearing where they were exhorted to explain prices and assure customers they're not being gouged.

There is a "growing suspicion that oil companies are taking unfair advantage," Sen. Pete Domenici, R-N.M., said, opening the hearing in a packed committee room.

"The oil companies owe the American people an explanation," he declared.
Lee Raymond, chairman of Exxon Mobil Corp., said he recognizes that high gasoline prices "have put a strain on Americans' household budgets" but he defended his company's huge profits, saying petroleum earnings "go up and down" from year to year.

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"Let the rabbits wear glasses."

KingofCards

UGHH! I forgot the poll.

Little help moderators?

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"Let the rabbits wear glasses."

KingofCards

"Sen. Barbara Boxer, D-Calif., made the issue personal, noting that the executives were reaping multimillion-dollar bonuses on top of multimillion-dollar salaries as "working people struggle" to pay for gasoline and face the specter of soaring home heating bills this winter. "Your sacrifice appears to be nothing," Boxer told the executives."

I think this whole thing is criminal.

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"Let the rabbits wear glasses."

Dback Jon

I agree - Windfall profits tax!

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R.I.P Tim Minnick

The KING of Cards

LoyaltyisaCurse

Nuke em!

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Goin' "Double Maverick!"

AZZenny

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Hoping for Audacity


Well, in truth I'm actually not a total hawk, but I'm not a dove either -- I'm more like an angry pigeon flying over the political arena after a really big meal. -Abba Gav

krepitch

I say tax 'em like all the other corporations are taxed.

Brian in Mesa

This is a great poll, KOC.

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"If Chuck is Solo, Larkin is his Fett!" - Morgan

Djaughe

*wavingmodwandtoputpollquestionsin*

RedStorm

I am some what torn on this subject. Capitalism is capitalism. But, gas is something that we pretty much can not do without.

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The greatest lies are told before a marriage, after a hunt and during an election - Count Bismark

Kolo

Consequences beyond those already in place for price gouging (I honestly don't know what they are, but I understand there to be some)? And doesn't the poll assume a fact not in evidence, i.e. that oil companies have been price gouging? And what exactly does "price gouging" mean in this context?

Djaughe

I think there's a presumption about price gouging...thereby the results in this poll will be alot of yes votes.

Nothing wrong with that...methinks big oil is regulating the market...which is not capitalism.

wallyburger

Oil is an oligopoly. To get that sort of market power , there needs to be consumer protection. We are down to 5 major oil companies, which was allowed via anti trust law exemption. They owe us big time. Evil graverobbers that they are.

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In politics, nothing happens by accident. If it happens, you can bet it was planned that way.

Franklin D. Roosevelt


"The moment you think you got it figured...you're wrong." Mr. Rate

40yearfan

I voted yes. The penalty should be that they give .02% of their overages to the 40yearfan retirement pension plan. That'll learn em.

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“So I became a newspaperman. I hated to do it but I couldn’t find honest employment.” —Mark Twain

LoyaltyisaCurse

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Goin' "Double Maverick!"