Senators Grill Oil Executives

Wednesday November 9, 2005 3:16 PM


By H. JOSEF HEBERT

Associated Press Writer

WASHINGTON (AP) - Huge oil company profits at a time when motorists paid $3-plus for gasoline have sent shivers through a Congress worried about the political fallout.

Now senators are venting some anger - and hoping to get some answers - as the top executives of five of the biggest and most profitable oil companies testify at a Senate hearing.

The executives hoped Wednesday to dampen any further momentum for calls for taxing windfall oil company profits, something still viewed as a longshot but also no longer out of the question. Such a tax could inhibit investment in refineries or oil exploration and production, the industry contends.

The oil industry's record third-quarter profits - at a time when motorists were reeling from unprecedentedly high gasoline costs and warned of huge heating bills this winter - has caught the attention of both Republicans and Democrats in Congress. Some analysts predict the 29 largest oil companies will earn $96 billion this year.

http://www.guardian.co.uk/worldlatest/story/0,1280,-5403120,00.html

Two things that should NOT, REPEAT NOT, be in the private domain: national energy and national elections. What the fuck are we thinking?

other matter into a way to provide energy, that should be seized from me?

reserves. to boot, much public (government) monies in the form of subsidies, tax credits, etc. have fattened their pockets.

You come up with a way to run the world on frog shit, more power to you. You develope it on the public dole, you owe all of us.

Not a real pig roast. Leave your carving set at home.

Prefer mine the sushi-way....ie raw.

Quiet around here today, isn't it? I guess you've already had lunch. How about a drink after work?