If Oil Industry Profits Are Up, Why Aren't Gas Prices Down?

Complete video at: http://fora.tv/fora/showthread.php?t=1519

American journalist Jim Lehrer questions Chevron Corporation's Vice Chairman Peter Robertson as to why record profits for the oil industry have not resulted in lower gas prices for consumers.

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A Conversation About Oil with Chevron's Peter J. Robertson and Jim Lehrer in discussion at the 2007 Aspen Ideas Festival.

Some of the most inspired and provocative thinkers, writers, artists, business people, teachers and other leaders drawn from myriad fields and from across the country and around the world all gathered in a single place - to teach, speak, lead, question, and answer at the 2006 Aspen Ideas Festival. Throughout the week, they all interacted with an audience of thoughtful people who stepped back from their day-to-day routines to delve deeply into a world of ideas, thought, and discussion.

Jim Lehrer is the anchor and executive editor of PBS’s The NewsHour with Jim Lehrer. He came to Washington with PBS in 1972, teaming with Robert MacNeil in 1973 to cover the Senate Watergate hearings. They began in 1975 what became The MacNeil/Lehrer Report, and, in 1983, The MacNeil/Lehrer NewsHour, the first 60-minute evening news program on television. When MacNeil retired in 1995, the program was renamed The NewsHour with Jim Lehrer. Lehrer has been honored with numerous awards for journalism, including a presidential National Humanities Medal in 1999. In the last five presidential elections, he moderated ten of the nationally televised candidate debates. Lehrer has written 16 novels. His latest, The Phony Marine, was published in November 2006. He also has written two memoirs and three plays. His 17th novel, Eureka, will be published in fall 2007.

Peter J. Robertson is vice chairman of the board of directors for Chevron Corp., responsible for strategic planning, policy, government and public affairs, human resources, and corporate compliance. Previously, he directed the company’s worldwide exploration, production, and global gas businesses. He was president of Chevron Overseas Petroleum Inc., president of Chevron USA, and president of Warren Petroleum Co., Chevron’s former natural gas liquids subsidiary. He chairs the US Energy Association and is a past director of Sasol Chevron Holdings Ltd., Dynegy Inc., and Caltex Petroleum Corp. A native of Edinburgh, Scotland, he graduated from Edinburgh University and the Wharton School at the University of Pennsylvania.

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[kc5deb]

It's not the job the US government to set oil/gas prices. Now, in Venezuela... it IS the government's job to set the prices, since it owns the oil. If you want cheap gas? Move to Venezuala or Saudi Arabia.

I'm just as pissed as you are about the price of gas, but, I recognize that the government is 1/2 the damned reason it's so high!

[snake99899]

the only reason why they are driving prices up is because they have their investments but are investing in technology that they can monopolize on once we are ready to not become dependent on oil. in other words, screwing with our wallets in order to ensure that their companies last for the next 50 years. fuck them.

[001GenLee]

Why aren't prices down?, 'cuz it's a money thing... If folks would stop driving gas guzzlers like Tahoes & such, and switch to Smart Cars & Yarises, etc.., that would make 'em think. I want a Smart Car, but why are they so expensive? I guess because of the gas mileage they get.

[ulty777]

So here in Canada the first time gas whent up to 1.00 liter ruffly 3.00 an amarican gallon the price was $100 amarican a barrel so why now that its at 77 a barrel its still ruffly 1.00 canadian or close to 3.00 amarican. can someone tell mr why? supply is greater now if the barrrel cost less right?

[wfran15]

Chevron Exxon and Conoco are all owned by the American people through managed money funds (pension, mutual etc.) It's not like a couple of people are reaping all of these billion dollar profits. Also Oil and Gas companies have some of the most mediocre margins of any sector out there. Yet you don't hear Congress screaming for a windfall profit tax on biotech companies who's margins are almost double that of the Oil and Gas industry?

[Srd1126]

Plenty of things out there are heredetary yet can be treated,  Adult stem-cell research has had breakthrus, but embryonic has done nothing but put California deeper in debt.

Nothing made up about the gay-lobby. Ask Miss California what happens when you make a remarl they don't like.

[Srd1126]

You need to watch a more fair and balanced news progtam. The tea parties have started a MOVEMENT. And if you haven't noticed, despite heavy spending by big labor and other socialists, support for Obamacare is falling like a rock, along with his approval ratings.

[the0truth0hurts]

Google provides advertising. There are literally thousands of alternatives to google. Does google have a cartel regulating the amount of advertising they produce to keep the price high? NO!

I have never bought anything from google. How much have I spent on gas in my life? A fucking shit load. What alternatives do I have to fuel my car? NONE! 10% of 400+ billion dollars is way more than google's profits, and the oil companies have no competition, they all win! And this is a "free market"? BULL!

[the0truth0hurts]

Your arguments don't even make sense. If the problem is hereditary, then there is nothing we can do about it short from changing our genetics. So you must be pro stem cell and genetic research, because if the problem is hereditary like you say, then that is the only solution. So what exactly is your point?

Don't feel sorry for me, I don't smoke cigarettes. Not sure why you think I do. But I guess making things up is natural to you like this gay lobby you keep talking about. oneday you'll see.

[the0truth0hurts]

Your efforts at lobbying and spending 15K will do nothing up against multibillion dollar companies. I laugh at your comparison. In 2005 over 2 billion dollars was spent lobbying the government.

The whole anti-tax tea party charade was a joke. And what did it accomplish? NOTHING! Town hall meetings have little affects in influencing something that is being lobbied by huge corporations. It a plain fact.

You really have no clue how politics works. It all revolves around MONEY!

[Srd1126]

Point is the hereditary factor is there in heart disease and not in ADIS. Also the links of failure to "live healthy" are nowhere near as strong in heart disease as what to avoid in AIDS.

I must say I feel sorry for you if you are so weak minded that a cigarette commercial will make you smoke and you have failed to take asvantage of all the money the government spends to educate you on healthy eating.