CSPAN VIDEO: Senate Judiciary Commitiee takes charge against rising oil...A must see!

This is incredible!

I'm still watching the video, but it give me hope!

Enjoy

www.c-spanarchives.org...
judiciary commitiee

Thanks, watching now.

Good post

Thankyou

GRRRRR......

These are some dodgey characters!

The chairman asked direct questions he is not getting answers to.

One of the head oil guys said, oh, umm, I cant do anything about the price of oil, err.....duhhh.......err....

Shut up, and give us our money back! *slap*



Well thats how it should go......

"Perceived threats"

You have to be kidding me!!!!!!

This is an outrage!

Im so glad Senator Leahy from VT is heading this.....

GO VERMONT!!!!

All the heads are saying they are spending more money on expanding then ever before!!!!


YEAH EXPANDING SO YOU CAN MAKE MORE MONEY!!!!!



[edit on 2-6-2008 by IMAdamnALIEN]

Hang on.....our governments are taxing us to save the planet

And there buddy oil companies are expanding to help kill the planet

B*****t!!!!

John Lowe:

"Global Race for Energy"

Shouldn't that read......

Global War for Energy?


I can picture a poster add.....
_______________________________
|"How much are your children worth?"|
|
|"Shell oil will give you $1000 a piece" |
| |
|"Help fight the global war for energy" |

reply to post by Dillons


Got that right!

Leahy mentions that bush and his buddies were originally supposed to help stabilize the oil prices, instead, he says, they have doubled the price of oil since he has been in office!

Has anybody looked at some of the 'numbers behind the numbers'? It's easy to get your blood pressure up to stratospheric levels when you hear that Exxon made several tens of billions of dollars last year. The vital question isn't "did they make a lot of money?"...not only is the answer self-evident, it should be expected. Large companies, with huge, multi-decade investments in a business bloody well better rake in huge amounts of money, or they won't be in business long. The important number is profit *margin*. To put it in plain English, if I'm paying $4.00 / gallon for gas, how much of that $4.00 is going to Exxon?" The answer is rather surprising: FOUR CENTS

Don't believe me?

California Energy Commission Report

There's the numbers, folks. If we need to tax anybody's "windfall profits", I'd go for the government...they're making over ten times what the oil companies are getting per gallon.

reply to post by Brother Stormhammer


Your argument is covered in the video!

Im sorry, but if senators aren't buying it, then Im not either.

But yes Ill agree that the government makes more than the oil companies...

Its still robbery!




[edit on 2-6-2008 by IMAdamnALIEN]

Anyone watch all 3 hours?

What a doosey!

I couldnt take more than 1:30, too much blah blah by the oil heads, and too much logical sense made by the senate!

They are asking specific questions, and they arent getting specific answers.


The gist I got from the video was, the oil traders which belong to the oil companies are pushing up prices because of speculation, and geopolitical uncertainty. Which really means........

We are driving up the prices to WE CAN MAKE MORE MONEY!!!!!

Which is why we are soooooooooooooo DAMN ANGRY!!!!!


I can just hear Bush before the war talking with his rich friends in oil......

Bush: "You guys hear Im gonna start a war?"

Oil head: "Yes Mr. Bush this is fantastic"

Bush: "Ill start this thing and you guys crank up the price at the pump and we will all become richer than god!"

Oil head, Bush: "EVIL LAUGHTER" Muahhhhh hahah hahahhahah!


Am I close?

What I stated in my prior post wasn't an "argument". It was simple fact. My argument is this: If it's fine and dandy for the government to tell *a* company (be it Exxon-Mobil, Microsoft, or Bob's Produce Stand) what they will. while being in compliance with all anti-trust and other statutes, only be allowed to make a certain amount of money, then it's (by extension) fine and dandy for the government to tell *every* company how much they can make. As much as I don't like "Big Oil", I like that precedent even less. My dislike is only amplified when the people taking the oil companies to task for their "Excessive Profits" are making more profit per gallon of gas than the companies they're lambasting. Hypocrisy and collectivism in one package...what's NOT to like, comrade?

[edit on 3-6-2008 by Brother Stormhammer]

Originally posted by Brother Stormhammer
...they won't be in business long. The important number is profit *margin*. To put it in plain English, if I'm paying $4.00 / gallon for gas, how much of that $4.00 is going to Exxon?" The answer is rather surprising: FOUR CENTS

Don't believe me?

California Energy Commission Report

There's the numbers, folks. If we need to tax anybody's "windfall profits", I'd go for the government...they're making over ten times what the oil companies are getting per gallon.

That's plain and utter BS, and a little math will show you why. In the first quarter of 2008, Exxon made $10 billion in profit. Let's say that 1/2 of that was from gasoline. That's 5 billion. Divide 5,000,000,000 by .04 and that will tell you how many gallons were sold to make that profit. That's 125 BILLION gallons of gasoline to make 5 billion dollars. In just ONE QUARTER (3 months)!

Still believe they are making 4 cents per gallon?

Let's put it another way: In Jan, Feb., March of this year, there exactly 90 days. Take 125 billion and divide it by 90. That's 1 billion 388 million (and change) gallons a day to make that 4 cent profit.

Still believe they only make 4 cents per gallon profit? (Remember, we assumed only 1/2 of their profit was from gasoline)

reply to post by sir_chancealot


Never thought of it that way....

Im sorry, but you make a hellofalotta sense to me!

.04 cents doesnt add up