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View Poll Results: Should there be consequences for price gouging oil companies?
Yes 19 70.37%
No 4 14.81%
I dunno... 4 14.81%
Voters: 27. You may not vote on this poll

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Old November 9th, 2005, 05:27 PM   #1
KingofCards
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Should there be consequences for price gouging oil companies?


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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Old November 9th, 2005, 05:28 PM   #2
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UGHH! I forgot the poll.

Little help moderators?
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Last edited by KingofCards; November 9th, 2005 at 05:31 PM.
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Old November 9th, 2005, 05:34 PM   #3
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"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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Old November 9th, 2005, 05:46 PM   #4
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I agree - Windfall profits tax!
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Old November 9th, 2005, 08:29 PM   #5
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Nuke em!
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Old November 10th, 2005, 08:24 AM   #6
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Definitely. Tax 'em to the hilt.
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Old November 10th, 2005, 08:26 AM   #7
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I say tax 'em like all the other corporations are taxed.

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Old November 10th, 2005, 08:44 AM   #8
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This is a great poll, KOC.
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Old November 10th, 2005, 08:53 AM   #9
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Should there be consequences for price gouging oil companies?


*wavingmodwandtoputpollquestionsin*
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Old November 10th, 2005, 09:02 AM   #10
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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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Old November 10th, 2005, 09:03 AM   #11
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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?
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Old November 10th, 2005, 09:14 AM   #12
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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.
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Old November 10th, 2005, 09:40 AM   #13
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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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Old November 10th, 2005, 09:44 AM   #14
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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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Old November 10th, 2005, 09:46 AM   #15
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Quote:
Originally Posted by 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.
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