Oil Executives In The Hot Seat

By Associated Press
.

Oil prices have put Americans over a barrel. Oil executives say global forces are to blame. Oil Executives In The Hot Seat
Published: Wed, May 21, 2008 - 9:54 pm Last Updated: Wed, May 21, 2008 - 10:29 pm
CAPITOL HILL (AP) - Big oil executives are facing some tough
questioning on Capitol Hill, as they defend company profits.
Exxon Mobil executive vice president Stephen Simon says his
company and the nation's four other top oil companies have had huge
profits "in absolute terms." But he tells a Senate committee that
what he calls "current up cycle" profits are needed to cover
investments when profits are down.
Senate Judiciary Committee chairman Patrick Leahy called that
"a nice term" when close to four-dollar-a-gallon gasoline means
"people can't afford to go to work."
When Leahy asked how much he is paid a year, Simon replied that
he makes 12.5 million dollars.
Pennsylvania Republican Arlen Specter says he can see no
explanation for why Exxon Mobil's annual profits have increased
from 11.5 billion dollars to more than 40 billion in the past five
years.
Exxon and the four other oil companies earned 36 billion dollars
in the first three months of this year.

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I tried biodiesel from a shell station and got poor mpg. I think it was also a bad mix or not realy biodiesel. I also have looked into making my own the problem is restaurants won’t let you have the old oil or there some people putting water and other objects in it. As you said the mess can cause the epa to step in depends on if you are in city limits. I am a CDL holder and have drove over the road for 5 years and can tell you the truckers are hurting. A truck holds aprox 200 gallons of feul when I drove I stoped for feul atleast every 2to3 days or when the tanks got to 1/4 full. That is 150 gallons at $4.50a gallon = $675.00 to fill up so do you want to eat wear clothes or have tv computers or anything else? So lets think about them the next time you see a trucker they are there for you. If they go on strike the food chain will stop!

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Why is everyone blaming people who drive SUV’s, trucks, etc? Why aren’t you blaming the oil companies? How many people do you know that makes 12.5 million a year? How many companies do you know that make record breaking profits at this time? Most of American businesses are falling. Why do American’s have to be afraid to drive to the store and use gas because gas prices are so high? American’s are actually stressing to the point of high blood pressure especially those that depend on gas for their jobs. OH, OH, that’s most American’s? We need our legislature. Where is congress?

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i am sick about the remarks on gas guzzlers   is an ambulance or fire truck on that list   hey what about the cost to the truckers   who transport goods the green idiots are putting this whole country down   drilling here might be a short term solution but so far we havent had a chance to find out   and i would like to see   and please get off opec we import 60 percent of our oil from canada then mexico opec is next to last on the list   with all the restrictions on oil its cheaper to import because of our restrictions thanks to enviro wackos if it would help i would let them drill in my living room   this far more than gas guzzlers (as you say)

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lawnman have you tried Biodiesel?    I am building my own kit to try and produce it myself.  I have an old diesel truck that I am planning on using it in.  I found a website that shows how to build your own.  It looks like the worst part is going to be the messing with the waste oil.  I see stories where people are producing it for less than a dollar a gallon.

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Think of the people that by USDOT laws have to use as some put it gas gusselers to pull trailers with equipment on them to do a job such as lawn mowers. The cost is high for us. My wife and I pack the trucks as much as we can and plan our trips to save feul. We use diesel in the trucks so we get better mpg then gas. Last gas truck got 4 to 5 mpg with trailers deisel gets 11 to 12mpg so at least I am trying to save. If perants would let there kids ride the bus that would save feul and traffic conjestion and save others from wasting gas in lines at lights. lets not forget the workig man that depends on feul to make a living.

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BOYCOTT EXXON!

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Park or sell your SuVs and Gas Guzzlers now. High gas prices are here to stay and will continue to rise. So we all need to get over it. The only way to combat the high cost of gasoline is to buy a car that gets better gas mileage. You better do it now because pretty soon the Auto manufacturers are going to start to notice a potential supply vs. demand situation with fuel efficient cars. It will not be long before you see the top executives of the car manufacturers explaining to Congress why a fuel efficient car cost twice as much today as it did two years ago. Car manufacturors will have to make up for the lost sales of SUVs and large vehicle that have already been produced. The sell of SUVs and large cars have already started to decline for the first noticable time since foreign cars took off in the 70s. The demand for efficient cars is going to take off out of control if the price for a gallon of gas exceeds $4.00.

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What have I said in the past regarding gas prices on these very forums? LOOK AT EUROPE! $9 a gallon folks…but they get the benefit of universal healthcare. We will not. As for drilling for oil here in our own supplies…TEMPORARY SOLUTION to a permanent problem. Even if we did that and gas somewhow managed to fall to say…$2 per gallon for example, NO ONE WOULD CHANGE THEIR WASTEFUL DRIVING HABBITS. We would drive BIGGER gas guzzling SUV’s and trucks…then, you would also have tons of people buying thousands of gallons of gas and storing it away for their own private use or to sell on a black market later. You would even have idiots literally wasting gas just because it is cheaper and they think they can/should. The result of all of this? GAS SHORTAGE AND SKYROCKETING PRICES…AGAIN! Think new long term solutions people. We are still running our vehicles on an antiquated, environmentally harmful fuel. We can do better than that by now.

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Cut off the food supply from the US to the middle east. Oil and sand don’t taste to good.

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i agree carl. i have heard nothing but bad about jimmy carter, i saw some old footage during his term where someone asked him how they were going to heat their home(during the oil shortage) and he said in a typical redneck voice “i don’t know? wear a sweater, chuckle chuckle”. i wanted to slap him in the face. im so sick of politicians and im only 23 years old, i have a lifetime to listen to their ####.

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