CLICK TO READ: On Profit and Pump Prices - Oil Executives Make Their Case Before Senators by Justin Blum & Jeffrey H. Birnbaum, Washington Post
CLICK TO READ: The Nation: Oil Tycoons Grilled on Windfall Profits by Ari Berman
CLICK TO READ: New pressure on 'big oil' by Mark Trumbull | csmonitor.com
I happened to catch a bit of the hearings yesterday on C-Span. What I observed was a whole lot of posturing by Republicans trying to convince their constituents they "care" and a whole lot of tough talk from the Dems. Not a whole lot else.
The most entertaining part was when Barbara Boxer displayed a chart showing the out-of-this-stratosphere salaries, bonuses and other compensation given to the oil company executives sitting before her. She asked if they would consider donating a portion of their earnings, along with their companies', to help low-income people pay higher energy costs. The execs didn't bat an eye. And the chair cut off Boxer's time, allowing the execs to avoid any response. Thank you, Mr. Chairman.
Given Republican campaign pocket books stuffed to the brim with Oil Company contributions, I can't see how the Republican controlled Senate will do diddley squat to help out consumers of either party who are facing up to 60% heating cost increases this winter--not to mention higher prices at the pumps.
But, then, did I ever really expect anything else?
PHOTO: James J. Mulva of ConocoPhillips, left, with Ross J. Pillari of BP America and John Hofmeister of Shell Oil, testified in front of two Senate committees yesterday. (By Melina Mara -- The Washington Post)
No comments:
Post a Comment