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Congress Has Big Questions for Big Oil

Full story: WXIA Atlanta

Big Oil is once again being called on the carpet. Senior executives of the five largest U.S. oil companies were to appear before a congressional committee Tuesday where they were likely to find frustrated ...

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mikey

Norcross, GA

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#9
Apr 1, 2008
 
I say lets drill for our own oil on our own soil. That would solve our problem. And it would cause those towel heads to keep their own oil.
Get Informed

Houston, TX

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#10
Apr 1, 2008
 
Americans are amazing. I have yet to hear anyone complain about OPEC, or complain that you elected officials continue to keep this country from drilling in Alaska or off the coast of Florida. Do you know some of the reason our gas prices are so high is the rising cost of Ethanol blends that Congress forces oil companies to blend. So why don't I hear any one complain about the high taxes charged on gasoline. Have any idea the taxes we pay on gas. The gas tax was designed to be a fixed amount on a gallon. But as usual our elected officials got greedy. So it' no a % of the cost so the taxes go up as the prices go up? WHY. Yea, let's get those oil companies and when they get regulated to death maybe they'll leave and you can drill you own well. Check gas prices overseas. American are lazy and love to pay taxes. Just ask the Obama supporters
Know the rules wrote:
Oil is a profit for the gas companies. they are theives who are stealing us blind. We can get oil the media and these companies want us to believe other wise so they can price gouge the US. How illegal but the law makers won't hold them accountable. In this economy the lawmakers should have every single oil company fined or out of business for raping every single person who puts gas in their cars to go to work. There is not one single valid reason for the prices of oil soring in America except GREED by each and every single person who has ownership in the oil industry. You guys are thieves nothing more and I hope you have the worst trouble living with your own greed. I know God in Heaven will punish you severley for your behaviors and thievery. God hates a thief and so do we. congress and our Government should be held accountable as well for not putting an end to this outrage immedately when the gas prices started to rise. The American people should get justice by making the oil companies give away free gasoline until their billlions in profit are eaten up and the oil prices go back to normal priceing such as below $2.00 a gallon. Come on Congress do you duty and hold them responsible and give restitution to each and every victim who has paid in gas at the pump every single day. We are victims of oil price abuse and theivery.
Get Informed

Houston, TX

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#11
Apr 1, 2008
 
Yea, that's the ticket. Break up the oil companies and maybe you can learn how to walk when we don't have any gas. Yea, let the government run it. Then we'll be paying $8.00 gallon. The only sensible comment you make is it's time we pressure OPEC. One way to do this is drill in Alaska, get our own supply then watch oil prices drop.
Slim Jim wrote:
<quoted text>
See? The "free market economy" is brought up like it's an Eleventh Commandment. What the "free market economy" doesn't include, though, are the tax breaks for oil companies and other incentives. The "free market economy" also has a certain problem with monopolies, which (even though they go by different names) Big Oil obviously is. I'd be all for that "free market economy" if the big boys didn't slip in all of these exclusionary clauses and other benefits that go AGAINST the free market. I say break up the oil companies so the Average Joe and Jane get a fair deal and then play hardball with OPEC. Yep, they've been in bed with the Bush family for decades, but bomb the crap out of them anyhow. America First. Cronyism LAST.
happyhippy1

Milledgeville, GA

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#12
Apr 1, 2008
 
the headline should read "Big Oil has Big Questions for Congress" why are we not allowing drilling in our waters, in anwar, in our own sovereign nation. Why must we remain dependent on foreign oil....that is the real question here.
CONCERNED CITIZEN

Baytown, TX

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#13
Apr 1, 2008
 

Judged:

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TO ALL THE OIL COMPANY EXECUTIVES AND THE PRESIDENT. YOU HAVE NOT KNOWN POVERTY!
YOU HAVE NOT KNOWN LIVING FROM PAY DAY TO PAY DAY! YOU ARE EVIL AND GREEDY!
YOU LIVE TO TAKE ADVANTAGE OF THE POOR AND THE NEEDY! BUT, ONE DAY WHEN IT'S TIME TO MEET YOUR MAKER (GOD) I PRAY THAT HE WILL SHOW YOU ALL YOUR EVIL DEEDS AND EVIL THAT YOU HAVE ENVOKED UPON OTHERS.
oakman girl

Fairmount, GA

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#14
Apr 1, 2008
 
i heard all the truckers on going on a strike in the next week or 2 so you all better stock up on gas and food there might be a shortage the truckers said they will not pay for diseal if it keeps going up good luck to us all
jme1

Athens, GA

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#15
Apr 1, 2008
 
I heard about the strike also, but I heard it started last night at Midnight. Hope I heard wrong.
Fact of Life

Atlanta, GA

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#16
Apr 1, 2008
 
Rob wrote:
Oh yeah and for the Government should put Big Oil out of business, then where would you get your gas stupid. I love the "We are victims " mentality too
"The American people should get justice by making the oil companies give away free gasoline until their billlions in profit are eaten up and the oil prices go back to normal priceing such as below $2.00 a gallon."
You obviously have no idea what a free Market economy is either. You should be asking Congress why they have not allowed the construction of any more refineries in the US in 20 years, Why are we not drilling for Oil on our won soil.
Stupid Liberal...the answer is not more Government.
Then I say to ROB...then request the government to discontinue the government subsies and the free leases agreements of government land in order to drill. If this so call Free Market is to work the way you say it does then let them fend for themselves. The government should not allow any tax incentives to "For Profit" Corporations. It is high time the oil companies make their own Icing. They have a large enough cake without the taxpayers having to subsidize their operations.

And as they always say..."If you can't beat them join them!" These are public companies, buy their stock. This way, when you have to buy gas, at least you know you're going to get a little something back.
qam

AOL

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#17
Apr 1, 2008
 
NRB wrote:
Democrats are complete morons on this issue. The reason that oil prices are high isnt because of gouging, it is because countries like China and
India are surpassing our use.
Also, EPA regulations make it more costly for gas to be formulated, requiring 100 different blends for every state.
Finally, taxes are a huge part of the price of gas but nobody seems to complain about that for some reason.
People who want to "nationalize" oil would be in for a rude awakening, because all it would cause is even higher prices, shortages, and a damaged economy.
Suck it up and pay the 4 bucks. If you can afford to pay for internet access, Starbucks coffee, and cable TV then you can pay market price. Stop whining to the goverment every time you dont like something.
The congressmen in question should be stripped of their titles and deported to Cuba where they belong, by the way.
EXACTLY!! This is what we did to Europe in the 70's and 80's. Petrol has been way over $4 a gallon there for years! Now, China and India are doing this to us. But, we aren't all that innocent. If we had not outsourced all our jobs to China and India in the 90's, they would not have grown so much needing more petrol and raising their cost of living to compete with the US. However, saying that puts the US in a bind, and asks the question, do we NOT want to see our fellow human beings compete on the same level as us? We have to face the truth that possibly the US isn't going to remain the richest country in the world forever, but if we use common sense and if our lawmakers would do the right thing for the people instead of lining their pockets, we could be ok. But i have the feeling that isn't going to happen and the constant struggle of the rich vs. the middle class / poor will continue.

“Tell the Truth”

Since: Nov 07

Orlando, Florida

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#18
Apr 1, 2008
 

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NRB wrote:
Democrats are complete morons on this issue. The reason that oil prices are high isnt because of gouging, it is because countries like China and
India are surpassing our use.
Also, EPA regulations make it more costly for gas to be formulated, requiring 100 different blends for every state.
Finally, taxes are a huge part of the price of gas but nobody seems to complain about that for some reason.
People who want to "nationalize" oil would be in for a rude awakening, because all it would cause is even higher prices, shortages, and a damaged economy.
Suck it up and pay the 4 bucks. If you can afford to pay for internet access, Starbucks coffee, and cable TV then you can pay market price. Stop whining to the goverment every time you dont like something.
The congressmen in question should be stripped of their titles and deported to Cuba where they belong, by the way.
I'll bet your stock portfolio is loaded with Exxon/Mobil.

“Tell the Truth”

Since: Nov 07

Orlando, Florida

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#19
Apr 1, 2008
 

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Get Informed wrote:
Americans are amazing. I have yet to hear anyone complain about OPEC, or complain that you elected officials continue to keep this country from drilling in Alaska or off the coast of Florida. Do you know some of the reason our gas prices are so high is the rising cost of Ethanol blends that Congress forces oil companies to blend. So why don't I hear any one complain about the high taxes charged on gasoline. Have any idea the taxes we pay on gas. The gas tax was designed to be a fixed amount on a gallon. But as usual our elected officials got greedy. So it' no a % of the cost so the taxes go up as the prices go up? WHY. Yea, let's get those oil companies and when they get regulated to death maybe they'll leave and you can drill you own well. Check gas prices overseas. American are lazy and love to pay taxes. Just ask the Obama supporters
<quoted text>
I think we're just sick and damned tired of these gas prices regardless of the reason. When oil companies have made record profits several years in a row, it's hard not to see the reality that we're all being screwed.
NONE OF YOUR BUSINESS

Cedar Springs, MI

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#20
Apr 1, 2008
 
There was story on the news the other day that even though we have enough oil reserves and the demand that they keep saying is the main cause was down, the prices remained high because these 2 reasons were now cutting into their profit margin. "Profit margin", what they haven't raped people enough yet? Their execs are retiring BILLIONAIRES - with a 'B'- and lowering prices are going to cut into their "profit margin". Myabe their retiring execs need to retire with a cheesy gold watch like everybody else.
Even if we did start drilling on our own soil, that wouldn't help because first of all, all the hippy treehuggers would whine and complain, second we wouldn't see that much difference because there would be too much money in exporting it, then they could rape other countries besides their own; so that wouldn't solve the problem.

“Too busy working to occupy”

Since: Feb 07

Tampa, FL

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#21
Apr 1, 2008
 

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41% of Americans own oil/energy stocks through their retirement plans...

ExxonMobil makes about 8cents per gallon of gasoline sold. The government (fed/state/local) makes about 46 cents. Who's gouging whom.

Oil companies wouldn't make such big profits if they were allowed to say... upgrade and expand refining capacity, put more money into infrastructure and be allowed to explore oil deposits right here at home.

Some of you need to do a little research before you spout the party line.
Donna Atlanta GA wrote:
<quoted text>
I'll bet your stock portfolio is loaded with Exxon/Mobil.
liar

Atlanta, GA

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#22
Apr 1, 2008
 
Slim Jim wrote:
<quoted text>
See? The "free market economy" is brought up like it's an Eleventh Commandment. What the "free market economy" doesn't include, though, are the tax breaks for oil companies and other incentives. The "free market economy" also has a certain problem with monopolies, which (even though they go by different names) Big Oil obviously is. I'd be all for that "free market economy" if the big boys didn't slip in all of these exclusionary clauses and other benefits that go AGAINST the free market. I say break up the oil companies so the Average Joe and Jane get a fair deal and then play hardball with OPEC. Yep, they've been in bed with the Bush family for decades, but bomb the crap out of them anyhow. America First. Cronyism LAST.
This has to be about the most uneducated post that I have ever read on topx! Its' unbelievable the amount of BS someone can spew and actually be convinced they are right. Do some research, moron!
liar

Atlanta, GA

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#23
Apr 1, 2008
 
Here's an interesting article I found

articlhttp://www.portfolio.com /views/columns/economics/2007/ 12/17/Why-Oil-Prices-Will-Drop e
liar

Atlanta, GA

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#24
Apr 1, 2008
 
liar

Atlanta, GA

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#25
Apr 1, 2008
 
Donna Atlanta GA wrote:
<quoted text>
I think we're just sick and damned tired of these gas prices regardless of the reason. When oil companies have made record profits several years in a row, it's hard not to see the reality that we're all being screwed.
If you hate them so much and are sick of what they are doing to you then do something about it other than crying on this stupid forum. Go get a job working for a big oil co and maybe you will get some of those proffits.
Know the rules

Atlanta, GA

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#26
Apr 1, 2008
 
Well Stated!!!!!
Donna Atlanta GA wrote:
<quoted text>
I think we're just sick and damned tired of these gas prices regardless of the reason. When oil companies have made record profits several years in a row, it's hard not to see the reality that we're all being screwed.

“Tell the Truth”

Since: Nov 07

Orlando, Florida

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#27
Apr 2, 2008
 
liar wrote:
<quoted text>
If you hate them so much and are sick of what they are doing to you then do something about it other than crying on this stupid forum. Go get a job working for a big oil co and maybe you will get some of those proffits.
Now there's a REEEEAL solution. Bet you had to think hard to come up with that one. What should we all do? Pat the oil companies on the back and tell them what a great job they're doing?

Go back downstairs to the basement. Come back up when have something useful to say.
NRB

Alpharetta, GA

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#28
Apr 2, 2008
 

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Everyone wants to blast the oil companies, but I Have yet to hear anyone get mad at the real enemy: the government.

Oil prices are high because we haven't been able to find new sources of oil or refinery. Why? Government wont allow it in this country. Blame the liberal loony left enviro-whackos for this one.

Approximately 23% gasoline price is for federal & state taxes. Do the math. If gas is 4 bucks a gallon, one dollar of that is for TAXES. Taxes that your friendly government will waste on CRAP.

I've never seen such whining in my life. Everyone in this country thinks that businesses exist to make life easy for them, or give them freebies.

Newsflash: businesses, including "big oil", exist to make a PROFIT. If you take those profits away, you undermine what this country was founded on and you will end up crippling our economy.

If you hate the price of gas so much, I suggest you look at your spending habits. If you have an internet connection, cell phone, cable TV, and go to Starbucks on a regular basis, than STFU as you have zero basis to complain about the price of ANYTHING.

Stop looking to our worthless government to solve every single "problem" under the sun, before we end up stagnant and useless like Europe..or worse...Canada.

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