Oil Companies Defend Profits To Congress

Discussion in 'Economy' started by BrianH, Apr 1, 2008.

  1. BrianH
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    BrianH Senior Member

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    http://www.foxnews.com/story/0,2933,344193,00.html

    In other words, "We know that rising fuels costs are hurting consumers, especially the poor and those on fixed incomes, but tough shit; deal with it."

    Our mighty American energy companies doing what they do best.
     
  2. dread
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    dread Member

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    You know...I have no problem with companies making a profit. It is good for the economy. That being said...When one is making money hand over fist to the extent that it is breaking down the economic system around the infastructure THAT is when I get a little mad. When truckers cant afford fuel because they have to put food on the table that sends the rest of America in a tailspin. Or rather like a domino effect it affects everything around us.
     
  3. manifold
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    manifold Diamond Member

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    It's almost enough to warm me to the idea of socializing the oil/fuel industry.
     
  4. jillian
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    jillian Princess Supporting Member

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    And still we give them tax breaks....

    but is anything else to be expected when your VP devises energy policy behind closed doors with oil company lobbyists?
     
  5. AllieBaba
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    AllieBaba BANNED

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    Once again.

    The reason oil is high is not because of capitalism. It's because the libs refuse to allow us to access our own oil. It's because the libs refuse to allow us to build refineries. It's because the libs think it's a good idea to take food from our own mouths to put into our gas tanks INSTEAD of accessing what is readily available. You don't have to be a genius to understand this: capitalism leads to lower prices, not higher. But when you start messing with people's ability to access/develop their own land, when you tax exhorbitantly those who provide jobs and commodities, THEN you get an out-of-whack economy, and the little guy feels the crunch.

    But you guys don't care about the little guys, or you'd realize it's a GOOD thing to harvest our own resources, and be self-sufficient.
     
  6. BrianH
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    BrianH Senior Member

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    If only the public arena could boycott gasoline like the truckers are doing. Those poor guys. What I don't understand, is how you take a by-product of gasoline and charge more for it than the gasoline itself. This is proof that fuel is high because we'll pay for it, and that the oil industry is swimming in pools of money. They're holding the country hostage.
     
  7. AllieBaba
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    AllieBaba BANNED

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    Where do you get that gasoline by-product?

    Not from US refineries.

    Sorry, I'm not a genius in the area of economics, but I recognize you probably need to do a little research.
     
  8. jillian
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    jillian Princess Supporting Member

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    Yep...
     
  9. Paulie
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    Paulie Platinum Member

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    I know you're not talking about ANWR.

    It's not like ANWR would make us oil-independent. What's estimated to be there would supply 5% of our consumption for 12 years on the low end of the estimates, and 32 on the absolute highest estimate. Take the mean, and you got about 22 years. But that's only 5%. I'd like to drill ANWR, but it's certainly not going to change THAT much, and then what do we do when it's used up? It's not like we're actively seeking alternatives.
     
  10. jillian
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    jillian Princess Supporting Member

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    Drilling ANWR would only kill natural area without adding anything of substance to our oil independence. The right loves it b/c it sets a precedent for the way oil companies can treat our environment.
     

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