Dorgan:Oil Co.s Have "Hooked Their Hose Up to Pocketbooks of Americans"

Democratic senator wants SEC investigation of ExxonMobil's $400m 'retirement package'

RAW STORY
Published: Tuesday April 18, 2006

Democratic Senator Byron Dorgan (D-ND) said ExxonMobil CEO Lee Raymond's $400 million retirement package is a "shameful display of greed" and said oil companies have "hooked their hose up to the pocketbooks of American citizens and are sucking money from ordinary Americans into the treasury of the giant oil companies," RAW STORY has learned.

In a statement, Dorgan said he wants the Securities and Exchange Commission to investigate the deal, and wants ExxonMobil called before Congress "to explain their actions."

Dorgan is a member of both the U.S. Senate Commerce Committee and the Energy Committee.
...........
Dorgan adds that he wants ExxonMobil to appear before the Senate Commerce Committee to explain how a corporation justifies giving a retirement package worth nearly half a billion dollars to one individual. He said the SEC also needs to investigate the arrangement which appears to shortchange ExxonMobil stockholders.

More from Dorgan's release
http://www.rawstory.com/news/2006/Democratic_senator_wants_SEC_investigation_of_0418.html

and to set the example for all the other war profiteers who are enriching themselves while we are engaged in the War on Terror.

The thugs will either ignore Dorgan, or tell him to go "Cheney" himself.

limit fuel prices? put a limit on corporate greed? cap executive pay?

i'm sure maria cantwell will volunteer to lead that charge.

hell yes i'm cynical.

There's NO reason for the prices to have risen so fast. If the oil compnaies were making nice profits when gas was $2.00, and they are making HUGE profits NOW..the extra we are paying IS going into Oil company CEOs pockets...and then there's the old canard about "no new refineries built in the last 20 years" crap.. They surely have plenty of money NOW,,what's stopping them from breaking ground on those new refineries?

Oh..I forgot.. they deliberately CLOSED the "extra" refineries so they could claim there was a shortage and start jacking up prices..and because the EPA actually expected them to clean up their own messes..

Such nice people..:puke:

Kind of like a farmer who slaughters all but a few of his milk cows and then claims "there's a milk shortage"... The difference here is that other people could go buy some cows and give him competition..but in oil-gas, we are totally at their mercy, and no on can convionce me there's not lots of price-ficing and collusion going on..

crooks..all of them

but price caps will then create "shortages" guaranteed.......lines around the block type thing.

I say NATIONALIZE the oil industry and plough any gains into a national agenda to wean off fossil fuel in 5 years, tops.

That's what needs to happen, but we all know who would be tearing their hair out screming 'sOCIALISM"..

tHERE are JUST SOME THINGS THAT need TO BE NATIONALIZED..


energy
communication
banking
elections
transportation

The basics that we ALL need should NEVER be up to "privateers"

judgment that's been standing against them since the Exxon Valdez fucked up our coastline.

They are still fighting it in court. Unbelievable.

4/18/2006 2:35:00 PM

http://releases.usnewswire.com/GetRelease.asp?id=64162

WASHINGTON, April 18 /U.S. Newswire/ -- House Democratic Leader Nancy Pelosi released the following statement today on news reports that the price of oil has skyrocketed to more than $70 a barrel:

"As Americans pay almost 90 percent more to fill their gas tanks since President Bush took office, oil companies continue to reap gigantic profits and oil executives receive astronomical compensation. Record prices, record retirement packages, and record profits are just the latest example of the wealthy few benefiting at the expense of hard-working Americans under the Bush Administration.

"The Republican Rubber Stamp Congress has passed two energy bills, costing taxpayers $12 billion for giveaways to big oil companies. But the Republican bills clearly have done nothing to lower gas prices, as the price of a barrel of oil has settled above $70 a barrel - the highest price in our history. Even the Chairman of the Federal Reserve agrees that gas prices are decreasing the purchasing power of American families and depressing the U.S. economy.

"Democrats have a plan to lower gas prices, taking America in a new direction that works for everyone, not just the few. Our plan would empower the Federal Trade Commission to crack down on price gouging to help bring down skyrocketing gas prices, increase production of alternative fuels, and rescind the billions of dollars in taxpayer subsidies, tax breaks, and royalty relief given to big oil and gas companies."

screwd in the last six years.

Maybe if the thugs are thrown out, the Dems may get the message.

and real leadership, we'd nationalize the oil industry NOW and use the profits to set an agenda to wean the country off oil in 5 years.

this wouldn't be a "democracy" long. more like it would be an unmasked oligarchy.