Hastert takes oil industry to task over large profits

Discussion in 'Politics, Religion, Social Issues' started by leekohler, Nov 5, 2005.

  1. leekohler macrumors G5

    leekohler

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  2. leekohler thread starter macrumors G5

    leekohler

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    #2
    Hmm... well I guess it's most likely just for show, but hey- maybe they're starting to get the message.
     
  3. pseudobrit macrumors 68040

    pseudobrit

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    #3
    Yup. Otherwise they'd be discussing increased taxation and/or repeal of the gov't subsidies they just passed in the energy bill.

    This is just making it look like they care. I welcome $150/bbl oil and $10 gasoline. Then maybe they'll have to do something substantial.
     
  4. Chip NoVaMac macrumors G3

    Chip NoVaMac

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    #4
    I can't but help to feel that the rapid drop (comparatively) in gas prices in the weeks just before the elections, to be a little suspicious.
     
  5. zimv20 macrumors 601

    zimv20

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    #5
  6. Chip NoVaMac macrumors G3

    Chip NoVaMac

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    #6
    The other side of the coin is that with Bush's approval ratings in the tank, and by some pundits comments - the rest of the RNC. It is little wonder that the Republicans are trying to act more like Democrats, and the Democrats trying to act more like Republicans.

    It will be interesting to see the results of the election on Wednesday.
     
  7. leekohler thread starter macrumors G5

    leekohler

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    #7
    Thanks zim.
     
  8. mactastic macrumors 68040

    mactastic

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    #8
    What an affront to the nation and this grand institution! Nothing but a political stunt, designed to take the heat off a party with no principles and no convictions. I've never had such a slap in the face.

    Oh wait, it's a GOP stunt. Never mind, that's completely different. Everything's fine!

    I wonder if Hastert consulted with the opposition before calling for these hearings?
    :p
     
  9. scem0 macrumors 604

    scem0

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    #9
    Republicans' display of sympathy toward consumers, and outrage at the oil companies, is hardly genuine, Democrats say.

    "Oil and gas companies give overwhelmingly to Republicans," said Rep. Rahm Emanuel (D-Ill.), claiming that the GOP's energy legislation was never designed to help lower prices at the pump. "And they gave $14 billion in taxpayer subsidies to companies that are making historic, record profits."


    That's pretty much how I feel :cool:.

    _Emerson
     
  10. tristan macrumors 6502a

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    #10
    One point of note - those profits are earned worldwide, not just in the US. I don't blame the oil companies, they're just the logical consequence of all of the US policies promoting oil. The oil industry is also an oligopoly at this point.
     
  11. solvs macrumors 603

    solvs

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    #11
    It's probably all for show... but of the neocons, Hastert is one of the less horrible.
     
  12. mactastic macrumors 68040

    mactastic

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    #13
    I wasn't gonna bust your bubble, but Hastert is no saint, not even when compared to other neo-cons. Remember, Hastert was DeLay's enabler when it came to arm-twisting in the House.
     
  13. solvs macrumors 603

    solvs

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    #14
    Yeah, that's what I get for having hope.
     
  14. tristan macrumors 6502a

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    #15
    I've been reading about the hearings today. The oil company's explanation is that they raised prices to reduce demand right after Katrina because there was a general lack of supply. This explanation might make sense in Loisiana and Mississippi, but I don't think it works nationwide because there are lots of different types of fuels.

    I think that the explanation could be very important because there are specific laws against price-gouging in the event of a disaster. However, I haven't read anything about Exxon being charged with price-gouging, but just the possibility of the "windfall profits tax".

    In general, I'd be against such a tax, but if Exxon was price-gouging (which seems so) and the government can't nail them on that, I think a punitive tax would be the way to go.
     
  15. zimv20 macrumors 601

    zimv20

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    #16
    link

     
  16. mactastic macrumors 68040

    mactastic

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    #17
    Aww, come here major campaign contributors... Let me coddle you through these hearings so you don't have to have your pictures taken with your hands in the air taking the oath. :rolleyes:
     
  17. solvs macrumors 603

    solvs

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    #18
    If it's already illegal to lie at these things, why not just get yourself sworn in as a show of faith? Do the neocons want people to hate them? Seriously, between this and Cheney's stance on torture, I'm beginning to wonder. Are the oil executives also oblivious the fact that people hate them?
     
  18. tristan macrumors 6502a

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    #19
    There's one group of people who love oil company execs - the oil company stockholders. Lots of industries are unpopular, tobacco, law, etc, but that doesn't give the government the right to grab their profits. But what the government does have the right to do is regulate the industry and promote competition. Congress should drop this "windfall tax" and initiate a price-gouging and collusion investigation.
     
  19. solvs macrumors 603

    solvs

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    #20
    Bingo. The "tax" (or fine) is just going to give them an excuse to raise prices again. Look at Halliburton.
     
  20. Chip NoVaMac macrumors G3

    Chip NoVaMac

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    #21
    More the reason that we first vote out bastards like Stevens and others that have their hands so deep in to the pockets with the money, it looks a like a porn movie.

    Then we make it so that we have meaningful campaign reform. I say no more than $1000 a year per a registered voter to any political party, PAC, or person in total. Companies would be limited to $500 per a year to any political party or PAC in total per a year. And only $500 per a candidate/incumbant during an election year.
     

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