Oil Execs Tell Congress: Don't Blame Us

[CaribbeanPirate]

Allow me to say this Mr. Chairman:

FUCK YOU BIG OIL!!!!!!

[hamptonmark]

If everyone would buy Citgo Big Oil Profits would com down.

[WolYou]

There is nobody you can blame for this except the consumers. Why are you commuting? Why all this huge cars? Its all about dependency. This ignorance system was doomed the day it evolved. You live in suburbs without infrastructure and public transport? Haven't you thought about the dependency on gas prices? The suburbs will be worth shit just because of oil shortage. How can someone think about the impact of oil prices while he's driving and trying to concentrate on the traffic?

[hoosieragainstobama]

big oil my butt, what about big govt. how many hundreds of billions did big govt receive from oil companies, much more than the oil companies profited and they did all the work, what did big govt. do for the monetaries from big oil, absolutley nothing, im glad big oil is making big profits, since when is it bad to make big profits, its called capitalism, and you socialists cant survive without it you commi morons, look at whats wrong with this country and find out where big govt. has intervened

[ExxonExxoff]

OIL+GREED=EXXON, and the rest of that ilk!

[tm21344]

i wish i could rip this guys head off

[cowboycarl04]

I guarantee you if our country came out and said, we will start drilling oil in the gulf of mexico, off the coast in california, in the Rocky Mountains, and in ANWR in alaksa... the price of oil would drop 20-30% in a week...

that simple... yet all I hear is how they can try to tax it to make more money...

let the revolution begin... ron paul is right

[randoozer351]

Ahh but here is what you are missing: In practice "our country" has little to do with what gets drilled. We can pass laws saying what is and isn't drillable but it is chevron, texaco, etc. that decide whether or not to drill. In practice they drill by supply and demand and laugh as the middle class continue to buy the gas they need to get to work... this is why Mobil posted the biggest profit for any US company EVER this year. If we could FORCE them to drill gas prices would drop... we can't.

[str33twarrior22]

well, you know... the democrats are right, we shouldnt put our fucking environment at risk for some shitty ass oil. its time to get out of the past, and find alternative fuels, atlernative power. we need to stop sucking up all of this oil. it harms the air, especially in big cities, and itf we drill in the oceans, it could and probably would pollute them too.

[nwkennon]

IF PEOPLE DEMAND IT, IT WILL BE SUPPLIED. RIGHT NOW WE WANT OIL, WHETHER YOU LIKE IT OR NOT. Why do you think so many people are angry at oil companies? "We want cheap gas!"

[cowboycarl04]

the people angry at oil companies are generally not informed...

when we only create around 24% of our energy demand on our own soil and buy the rest at market value, it's expensive as shit...

solution, stop being dependent on other countries...

solution in congress: tax people and companies...

it's bull shit, Congress is one big heap of failure, and I suggest writing them daily to get the point across

[nwkennon]

Also, the free market is the best way to allocate wealth. Name one good system the government has implemented that is more fair than the free market. Welfare? People who don't work and exploit the system recieve long term cash flows. They benefit from laziness. Social Security?  Fucked. Public Schools? Shitty.

The federal government can only gum up the works.

[nwkennon]

It's supply and demand. If alternative energies are great, then they should be successful. Why aren't they successful? Because they aren't great YET. They will be though. Companies like Chevron and BP will over the long term be more successful, and your Exxons will go under because after the oil is gone, there is no alternative.

As long as the market demands it, oil companies will supply it. The only thing that will make alternative energies feasible is the higher price of petroleum.

[Badboyblue3]

I agree with the oil execs, if they lose money because their oil is being taxed, people will be fired and they won't apologize. Making more ethanol fuels mandatory cost the govt/taxpayers money that we have so little of and more ethanol production means less food and more expensive food, I'd rather live than drive. The fact that we CAN'T dig in barren land in Alaska or 85% off our coasts hampers the price of oil. Tax the oil companies but don't complain when the oil prices go up to $10/gallon.

[tuttle572]

Patrick Leahy record:

Voted NO on paying down federal debt by rating programs' effectiveness (Mar 2007)

Voted YES on disallowing an oil leasing program in Alaska's ANWR. (Nov 2005)

Voted YES on banning drilling in the Arctic National Wildlife Refuge. (Mar 2005)

Voted YES on removing consideration of drilling ANWR from budget bill. (Mar 2003)

Quote exposing economic ignorance: There's an unexplained "disconnect" between prices — at nearly $130 a barrel — and legitimate supply and demand.

[TELEVISIONARCHIVES]

Oil prices are set on a world market, often beyond direct control of American petroleum companies

[TELEVISIONARCHIVES]

So gas prices are the fault of Enron? HAHAHAHAH. You are so wrong

[doughpro]

How disgusting that our politicians think we are so ignorant. Congress is to blame for our high gas prices. They have cowered to the environmental groups to kill new technology, drilling, updating of refineries, and they have the nerve to put these businessmen on display in an attempt to make them feel guilty for doing their job, making a profit.

At this moment, I am thoroughly ashamed of my government. I have a question for them: How do YOU feel about what YOU are doing to our country?

[sshepard06]

Wow, you must be a Foxnews fan, a poll came out and people who watch Fox know less about the United States and the world than people who don't follow the news at all. Turn off your TV and stop having that free-market, neo-con garbage spoon fed to you.

[tkdtko]

Shep, That's a very interesting statistic. I, as a fox news watcher, would like to know where I can find this poll you sited. Could you please let me know where I can find the results?

Thanks!

[calenteUK]

That was a Pew Research Center poll, look it up.  Too bad it's very true :-)

Or maybe very disturbing?

[tkdtko]

Calente,

I appreciate the response, but could you let me know where to find the info myself?

[calenteUK]

Go to google, type "Pew Research Center April 15, 2007 Fox New watchers know less"

[tkdtko]

Calente,

Not to be disrespectful, but if your source of info is the BBC, I'll roll the dice on the accuracy of your facts.

[JME1282]

excuse me sir but how much education do u have in economics. why is congress putting on tarriffs, taxes on gas, and having us be unable by law to drill for oil here at the same time complaining about high gas prices.

tell me how would u lower gas prices. would u get rid of the gas tax? the subsidies? the tarriffs? or how about allowing for domestic drilling? all of these would lower prices.  are u for higher prices of gas or lower?

[calenteUK]

Your gas tax has been in place since the creation of the highway system, should you cut those taxes and let the roads fall apart?

[JME1282]

well we could get rid of the tax and keep the roads from falling apart. allow for private ownership. or get rid of spending on superflous social programs which are not speciffically constitutional. thus allowing us to maintain the roads.

plump like a roast but thicker than most.

[calenteUK]

You're young. The UK did this very thing before WWII.

So, you should assign a specific company for a particular strip of road right? Are more monopolies a good idea? Isn't that the problem with oil, 5 major companies controlling all of the supply?

[calenteUK]

Wasn't the highway system put in under a Republican?

Doesn't the "general welfare" clause of the constitution cover these sorts of programs?

[calenteUK]

Further more, wasn't the highway system built for defensive purposes? Didn't it bring 10 times the GNP to the United States since it was built?

[JME1282]

i will not assign or give anything. whoever wants to buy or bid on it may. furthermore general welfare means "enforce contracts, maintain private property rights, rule of law, national defense." because we are free we are responsible for our own life. and you have failed to answer the question of tarrifs, and not allowing US companies to drill here in the united states. you also didnt say weather you were for higher or lower gas prices. and what makes u think i am a republican, u psychic?

[calenteUK]

You should check into "the guilded age", it was an era where the United States was in an almost pure capitalistic state.

Life wasn't good, and the inequities of society were at the largest amounts in America history.

In short, that's a horrible idea.

[JME1282]

still you have not answered my questions. and i still beleive people have the right to the money they make. i also believe in charities. now instead of telling me how bad america is why not asnwer my questions. what are you afraid of its not like they are difficult ones

[calenteUK]

That's an incredible short-sighted idea, you never went to college did you? If you did, you haven't taken much history.

The argument you're throwing out there assumes that a society is static, and when people are taxed less there standard of living is greater, this is just the opposite of what happens. It wasn't until the 1930's and onward when the U.S. experienced a great boom in standard of living, technology, and infrastruture.

It was also the era when taxes were at their highest.

[JME1282]

i am currently attending college at george mason university, in the united states where unemployement is half of that of the EU, and where productivity is higher than in the EU. i am getting my degree in economics and business marketing, i am fluent in japanese. so yes i am in college. and YOU STILL DIDNT ANSWER MY QUESTIONS, U MERELY RESORTED TO RHETORIC, i politely request you answer the questions i originally asked or ask u at least find another venue. バカヤロ

[calenteUK]

"excuse me sir but how much education do u have in economics."

***I teach history.

[calenteUK]

"why is congress putting on tarriffs, taxes on gas, and having us be unable by law to drill for oil here at the same time complaining about high gas prices."

***You can't drill your way out of high oil prices, it's not the production of oil that affects the prices, the problem is the bottleneck in the refineries. The big problem came when you allowed 'Standard Oil' to merge, allowing 5 companies to monopolize the market.

[calenteUK]

Your econ degree isn't that impressive, you have should study the larger scope of civilization. We tried the ideas you're advocating and they stalled progress.

[JME1282]

ok, and you mention refineries. who keeps blocking the building of refineries in the united states.  you also avoided tarriffs (which is just politically correct nationalist racism called "protectionism")

what the point of the video was is that the governments interventionist policies have done quite alot to drive up the price of oil whilst taking none of the blame. and i have taken history courses. specifically asian and european.

goodbye.

[calenteUK]

So you haven't taken any history classes, economics is a pretty narrow study. Take some 19th century history.

[calenteUK]

It is not a correct deduction from the Principles of Economics that enlightened self-interest always operates in the public interest. Nor is it true that self-interest generally is enlightened; more often individuals acting separately to promote their own ends are too ignorant or too weak to attain even these. Experience does not show that individuals, when they make up a social unit, are always less clear-sighted than when they act separately." -John Maynard Keynes

[arian50]

umm YES. The money should go to research to find alternative fuels or as incentives to decreasing diesel....thats why all the food prices are jumping up.

[doughpro]

You must be a network news bonehead, since you pay attention to non-scientific polls. A lesson in statistics will tell you how accurate your "poll" really is--or isn't. Common knowledge (Fox reported), most people have no clue that when you hear the word "poll" by anyone in the media, better believe it is going to be 99% bullshit, and 1% accuracy. The reason for polls? To sway the opinion of the ignorant minions like yourself.

[sshepard06]

What's your level of education? Have you ever taken a stats? The polls that had Obama whipping McCain turned out to be pretty accurate.

[doughpro]

What is "a stats"? I know stats, do you? Obama did not "whip" McCain, and I stand by my previous post.

[nesnman]

So that explains the rise in prices in Japan and other countries? Nope.

[nesnman]

Pure Fiction. This is not true at all.

[maineebay]

So why didn't the democrats bring this up yesterday or the other times ?

[mcsetech2000]

I don't understand why bush keeps begging the Saudis when Venezuela is close to the us. Bush need to stop being a cowboy and try to reason with that dildo Hugo Chavez. did any one know that Chavez gives discounted crude to other country. At this point we should work out a deal with the Ass*hole. fuck the Saudis there oil is running out any ways. well my point is let do biz with that F*ker Chavez. Well it's an idea.

[mcsetech2000]

this guys are full off shit they need to be investigated.

[mossretard]

in the united states china and india have tripled consumption in the lat 10 years shit the US is up from 15 million barrells a day to 20 since 1990 the dollar is devalued and commodities are priced in dollars your society is based around the car highways were built to ship arms not for commuting you fuked your selves, when was the last time you built a nuclear plant these assholes in congress always vote that down that would have decreased demand, politicians are more to plan than exxon.

[edburg49]

Supply and demand will do exactly what it does now and what it has done for the last 5 thousand years if only the legislators would stop regulating this industry. The law makers are the hypocrites here. They have structured this industry so that new companies cannot get it in... so that we cannot drill or refine here.

[maineebay]

Why didn't the democrats bring up this memo today or any other time? Hmm.

[maineebay]

Give me a break. The Environmentalists have slowed the building of refining.

[Mudget]

it's all a facade. the oil industry testifying before congress is like george w. bush holding hands with saudi king fahd. oh sure, they'll say "come on, cut us a break" with a wink and a nod, but does anyone actually think anything's going to be done about the skyrocketing cost of oil?

nope. it's long long long overdue time to find alternative forms of energy.

screw these guys. they don't deserve profit on the backs of hard working people. as for congress... what's their plan? (silence)

[nesnman]

This is the 5th time they have called them up. The Oil Execs don't control Gas Prices around the world and they have gone up just as much and in fact cost more in many parts of the world. This is nothing more then grandstanding.

[goodmood102]

Liars....THEY SAY: Don't look at me! It was somebody else who raised prices...... I'm a Moron, Chevron is GOOOOOOOOOOOOOOOOOOOD, Chevron is your FRRRRRRRRRIIIIIIIIIIEEEEEEEENN­NNNNNNDDD!

[natedogg1028]

everybody jus points the finger at someone else

[mossretard]

People actually need to look at themselves, the American economy revolves around the car and reall y this needs to change.

[vraddrag]

first view first rate first comment! sixth time