Kucinich Sends Letters to CEOs of 7 Major Oil Companies. (Gas expected $4/gallon CA etc)

Press Release;;;


Kucinich Sends Letters to CEOs of 7 Major Oil Companies

Chairman of Domestic Policy Subcommittee Demands To Know Why Gas Prices Could Reach $4 Per Gallon This Driving Season


WASHINGTON, D.C. (April 10) — Congressman Dennis Kucinich (D-OH), Chairman of the Domestic
Policy Subcommittee, today sent a letter to the Chief Executive Officers of seven major oil companies, demanding answers for the cause of new record highs in the price of gasoline.

“Consumers in some parts of the country face the prospect of $4 per gallon for gasoline this summer,” said Kucinich, who is the chairman of the Domestic Policy Subcommittee on the Oversight and Government Reform Committee. Kucinich’s subcommittee has jurisdiction over the Department of Energy.
“As we approach this year’s peak driving season, my subcommittee endeavors to know how the actions of
the major oil companies play a role in raising the price of gasoline.

“We seek to learn how the realities of decreasing refinery capacity, decreasing gasoline inventories, rising oil company profitability and increasing market concentration in the oil industry may be the root cause of new record-high gasoline prices.

“Gasoline prices are stealing away the little discretionary income available to many Americans in this distressed economy. The federal government must act now to resolve these high prices.
“Congress can no longer sit on the sidelines and watch as escalating prices continue to take a heavy
economic toll on consumers and risk further harming our economy.”

Previously, Kucinich introduced the Gas Price Spike Act, which would institute a windfall profit tax on gasoline, diesel, crude oil and home heating oil. The bill would not increase the cost of gasoline because the proposal does not tax the price of gasoline -- it only taxes excessive profits of refineries and distributors. Any attempt to increase prices to recover the lost revenue in taxes is simply taxed at 100% making the price
increase worthless.

The letter was sent to CEOs of the following companies:

o BP
o ConocoPhillips
o Chevron
o Valero Energy Corporation
o Exxon Mobil
o Tesoro Corporation
o Shell Oil


Letter is here page 2

http://www.consumerwatchdog.org/resources/KucinichOilLetter4-10-07.pdf

Dear Dennis,

Why almost $4 a gallon? Because we can! We love our money too much.

Sincerely,

BP
ConocoPhillips
Chevron
Valero Energy Corporation
Exxon Mobil
Tesoro Corporation
Shell Oil

Good job Dennis. Keep after them! Don't let them off the hook.

This man is the real deal.

WTG Dennis!

There's a glut of crude now because the sphincters have shut down refineries for 'maintenance'

-Hoot

Thanks for the thread Flabbergasted.