November 9th, 2005, 04:27 PM
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#1
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My Hero
Join Date: May 2002
Posts: 11,918
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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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"Let the rabbits wear glasses."
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November 9th, 2005, 04:28 PM
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#2
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My Hero
Join Date: May 2002
Posts: 11,918
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UGHH! I forgot the poll.
Little help moderators?
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"Let the rabbits wear glasses."
Last edited by KingofCards; November 9th, 2005 at 04:31 PM.
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November 9th, 2005, 04:34 PM
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#3
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My Hero
Join Date: May 2002
Posts: 11,918
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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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"Let the rabbits wear glasses."
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November 9th, 2005, 04:46 PM
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#4
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Killer Snail
Join Date: May 2002
Location: Scottsdale
Posts: 30,971
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I agree - Windfall profits tax!
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R.I.P Tim Minnick
The KING of Cards
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November 9th, 2005, 07:29 PM
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#5
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The Arizona Fitzharmonic.
Join Date: Aug 2004
Location: CA
Posts: 20,181
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Nuke em! 
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"Going from the Raiders receivers to Larry Fitzgerald is like trading a Spam dinner for a well-aged T-bone steak." --Dan Hanzus
When I play rock, paper, scissors, I keep a glass of water in my hand and when my opponent throws down I throw the water in his face and say "Water". Beats all three, scissors can't cut-it, paper dissolves and the rock sinks. Plus it usually surprises the hell out of them.
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November 10th, 2005, 07:24 AM
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#6
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Registered User
Join Date: Feb 2003
Location: Cave Creek
Posts: 9,101
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Definitely. Tax 'em to the hilt.
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"The power of the State looks real different when you're on the other side of the bayonet." Chris Hayes
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November 10th, 2005, 07:26 AM
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#7
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Moderator
Join Date: Jun 2003
Location: Phoenix
Posts: 12,416
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I say tax 'em like all the other corporations are taxed.

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November 10th, 2005, 07:44 AM
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#8
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BIM™
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This is a great poll, KOC. 
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HONEY BADGER DON'T CARE
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November 10th, 2005, 07:53 AM
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#9
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Ads by Google
Join Date: Dec 2003
Location: 85249
Posts: 23,009
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Should there be consequences for price gouging oil companies?
*wavingmodwandtoputpollquestionsin*
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November 10th, 2005, 08:02 AM
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#10
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Next NY Gov
Join Date: May 2002
Location: Gilbert
Posts: 9,516
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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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Yeah, Stormy's probably on to something. - Rivercard
Sense MAKER!!!
Blasphemer!!!
Burn him!!!!
He speaks in tongues of logic and common sense, this troubles us and must be dealt with swiftly. - conraddobler
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November 10th, 2005, 08:03 AM
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#11
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Registered User
Join Date: Mar 2004
Posts: 3,820
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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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November 10th, 2005, 08:14 AM
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#12
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Ads by Google
Join Date: Dec 2003
Location: 85249
Posts: 23,009
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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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November 10th, 2005, 08:40 AM
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#13
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Provocateur aka Wallyburger
Join Date: Nov 2003
Location: via pacis
Posts: 27,730
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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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"I read the news today, oh boy"
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November 10th, 2005, 08:44 AM
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#14
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DEFENSE!!!!
Join Date: Feb 2003
Location: Phoenix, AZ.
Posts: 31,995
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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 age isn't so bad when you consider the alternative.
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November 10th, 2005, 08:46 AM
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#15
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The Arizona Fitzharmonic.
Join Date: Aug 2004
Location: CA
Posts: 20,181
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Quote:
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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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__________________
"Going from the Raiders receivers to Larry Fitzgerald is like trading a Spam dinner for a well-aged T-bone steak." --Dan Hanzus
When I play rock, paper, scissors, I keep a glass of water in my hand and when my opponent throws down I throw the water in his face and say "Water". Beats all three, scissors can't cut-it, paper dissolves and the rock sinks. Plus it usually surprises the hell out of them.
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