Oil Execs to Be Asked to Justify Profits

Top executives of three major oil companies will be asked by senators next week why some of their industry's estimated $96 billion in record profits this year shouldn't be used to help people having trouble paying their energy bills.

Ahh this should be entertaining. I can only imagine the responses.

Lee Raymond, chairman of Exxon Mobil Corp., Jim Mulva, chief executive of ConocoPhillips, and John Hofmeister, president of the U.S. unit of Royal Dutch Shell PLC, will be among the industry executives to be questioned at a Senate hearing, according to congressional and industry officials.

The dude with the omega chin !

More in the detailed article here:

news.yahoo.com...

Grill em good.

If I were an oil company executive, the answer would be simple.

Do you realize the oil companies have paid over 54 billion dollars over the last 9 years just to comply with stupid enviro regulations? Basic enviromental concerns, I have no problem with, but you know how enviro-whackos are, they take everything to the extreme.

I would also ask the federal government why they refuse to repeal the gas tax of .18 per gallon?

I would also ask why the US has not build a single new refinery in the last 25 years?

I would also ask why it took ANWR so long to be opened up for drilling? Also why they haven't opened up the California and Florida coast up for drilling?

The same Senators asking these question of Oil Executives, need to take a look in the mirror! They need to be asked of their roll in higher gas prices and lack of supply.

Originally posted by Carseller4
The same Senators asking these question of Oil Executives, need to take a look in the mirror! They need to be asked of their roll in higher gas prices and lack of supply.

Well put. I think that the main reason that the Senators are looking into this is to make themselves look good. While I am curious as to why we have been paying such high prices at the pumps, the reality is that these oil companies are selling a product - a product we are buying.

I'll have to keep my eye on this as it continues to see what arguments the oil companies make.

I got a good one,

They are getting profits because the have to spend so much millions of dollars on political campaigns and lobbying in Washington for their right to keep polluting the environment.

All that sweat and nightmares you know . . . they deserve the profits.

Campaign Finance, Totals for 2004 are through June

Democrat $16,516,792 24.33%

Republican $49,714,256 73.24%

Other $1,645,991 2.42%

I wonder how the 2005 looks like I will keep looking. Poor oil companies they sure have bought the Republican party, they need their profits.

Inverstigation my butt.

www.publicintegrity.org...



[edit on 8-11-2005 by marg6043]

@ Marge6043

16 million and 49 million isn't even close to 54 BILLION that oil companies have spent over the last 9 years complying with enviro laws.

Write your Senators and urge them to drop the 18 cent per gallon tax on gas. But don't hold your breath, because that is their money you are messing with.

I can justify their profits right here:

They rolled the dice and invested the right kind of business (for the time being). They deserve their profits --we still are capitalist society, remember?

Absolutely, they should obey environmental laws, just as any business owner should. Hell, we got problems on planet earth right now related to the weather. It's clear something is happening. And for right now earth is all we got. We can't just jump in a spaceship and go to the "clean planet."

If you think of the world like your swiming pool at home, would you take a dump in the pool, and tell your kids, "jump in, the water is fine."

And are the oil companies hurting for profit, I doubt it.

Take care,

Troy

How does them having to pay money to obey enviroment laws have anything to do with record profits? We're not drilling enough holes in california, hmmm...so what does that have to do with RECORD PROFITS.

PROFITS!!! They're not losing money, they're aquiring massive quantities of it, more then ever actually.

All the while we get burned. I say hang em high.