Congress Beats Up On Oil Execs
May 24th, 2008 | By Byron King | Category: Oil Investment & Alternative EnergyRotten, no-good Members-of-Congress. In America, the Senators haul oil executives in front of Congress to insult and belittle them.
In Russia, they elect the former president of Gazprom as president of the country.
Hmmm… Russia or the USA… Which country does not have an “energy crisis?”
“People we represent are hurting,” says Sen. Leahy of Vermont to the oil company executives. “The companies you represent are profiting.”
Yeah? So what? Oil companies make about 4-cents per gallon gas. The federal govt makes at least 18-cents, and state govts make much more than that. Besides, most oil companies are actually “losing” money on downstream operations. The refining margins just plain suck right now.
And whose fault is it that people “are hurting?” People in the US have made several generations of bad choices in energy policy, to include electing guys like Patrick Leahy to the US Senate. The Patrick Leahys of the world have never done a darn thing to increase the energy supply of this country. They just sit back, pass legislation to lock up areas the size of Maine — as well as 85% of the US Outer Continental Shelf — and then take potshots at the people who put gas into the fuel tanks of America.
Really, Senator… Would you trade the management team of Chevron or Exxon for the mangers of Pemex? You want gas lines? Try that, genius.
Here is the scoop, if you missed the story.
Until we meet again
Byron King
Note: Byron King is a frequent contributor to the free e-letter Whiskey & Gunpowder. To receive daily insights into energy, oil, commodities and other natural resources sign up here!
Source: Congress Beats Up On Oil Execs…
Advertisement
At EverBank©, we've always made it easy for you to diversify in the world's most promising foreign currencies. Now see how we've made researching them just as easy. Go inside the new Foreign Currency Resources section of EverBank.com to discover:
- - Over 20 new web pages, each devoted to your research of a specific country and currency
- - Expert insights by Chuck Butler, President of EverBank World Markets, on every currency we offer
- - Condensed, relevant and timely economic information driving currency exchange rates
- - Tools, charts and tables you need to compare and evaluate different currencies
Visit today for global insights like only EverBank can deliver.
Byron is now a contributing editor to Energy and Oil, Whiskey & Gunpowder and editor of Outstanding Investments. After Harvard, Byron has followed developments in the oil and gas industry for more than three decades.