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Here we go again! Dems want to probe alleged gas price fixing
Posted: May 17, 2011
Geez. Every time gas prices go through the roof, they want to investigate, and never find anything wrong, or else they lose interest and it never goes very far. Why do they insist on wasting time? Could it be they don't want to deal with the deficit/debt ceiling vote, or JOBS; i.e., getting people back to work.
Sen. Claire McCaskill of Missouri on Monday asked federal regulators to investigate potential price fixing by oil companies that could be keeping gasoline prices artificially high.
McCaskill and Sen. Charles Schumer of New York, both Democrats, said in a letter to the Federal Trade Commission that it had authority to review allegations of potential wrongdoing, including whether oil companies were cutting back on U.S. inventories to keep gasoline prices higher and boost their refinery profit margins.
“If true, this behavior is a direct affront to the American people who are still struggling with the economic downturn,” the letter said.
Oil executives were grilled Thursday by a Senate committee over why an industry earning $35 billion in profits in the first quarter should still receive $4 billion in annual federal subsidies and tax breaks. The executives maintained that profits and subsidies were needed to find more oil.
“Don’t punish our industry for doing its job well,” said John Watson, CEO of Chevron.
Increased refinery profits weren’t the focus of the Capitol Hill hearing, but oil companies acknowledge that margins are rising. ExxonMobil reported $10.9 billion in first-quarter earnings and said increased refinery margins were one reason its profits were up 69 percent from a year ago.
Read more: http://www.kansascity.com/2011/05/16/2880218/senators-want-regulators-to-look.html#ixzz1Me2HfB8A
I really disagree with you about this one - Connecting The Dots
[ In Reply To ..]I think this may be the smoking gun, from what I've been reading and listening to with the smartest people I know on this topic. I'll confess that I can't give you a good explanation or argument about the whys of it. It's way over my head. I also have to go back to work. If I get smarter by the time I come back, maybe I can give a better debate with you on this topic.
Maybe the probes work (for awhile) - better than not probing.
[ In Reply To ..]I recall after they questioned this stuff before, the prices went down. Perhaps the pubs should get on board instead of paying the corporate welfare tax.
I paid over $50 to fill my gas tank yesterday - Please probe...PLEASE!
[ In Reply To ..]I'm in favor of probing.
They do this because while they - sm
[ In Reply To ..]investigate...they can pretend it isn't their fault. These high gas prices are partly Obama's fault, IMO. He wouldn't let us drill here...although he gave money to Brazil for them to drill..but whatever. The conflict in the Middle East hasn't helped and I don't see Obama pulling our troops outta there. Our dollar has been devalued because we keep printing money.
So instead of taking the heat...he is trying to find a scapegoat...simple as that. It is all deflection.
You may not have been paying attention last week - Obama is doing more than investigating
[ In Reply To ..]You have to stay up with the news. I don't think he's had time to care about finding a scapegoat. He has been a little bit busy. His progress gets slowed down by the Republicans, but he's moving forward in spite of them, which is a shame, because we're all Americans and we need to move forward. The Republicans are still the Party of 'NO' but they need to start acting in the best interests of the country rather than just worrying about getting reelected by their core group of supporters. We need action. They need to let Obama move forward.
Um....okay - sm
[ In Reply To ..]Obama still has our troops in the Middle East and hasn't changed much from what Bush did....and I assume you hate Bush, right? That hasn't helped gas prices. And all the spending Obama has done during his administration surely had nothing to do with us printing more money and devaluing the dollar, huh? Which is another reason gas prices have gone up. It takes more money to buy oil when the dollar is less valuable. As to drilling....Obama has made it pretty obvious that he has no real desire for us to drill in the US...although he gave Brazil money for them to drill.
So what have I missed...besides you thinking the sun shines out of Obama's every orifice?
I don't hate Bush at all, but it takes time to undo what he has done - Not a Bush hater at all
[ In Reply To ..]You can't take a country to war and then get out of it instantly. It's like Colin Powell said, "You break it, You own it."
Um....why didn't he move forward when he - had control of both
[ In Reply To ..]houses of Congress? Your argument does not hold water.
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