Enlarge Video 
Download Video
Video RSS
Day 14: Driving A Smart Car
By 
Published: Tue, April 01, 2008 - 3:57 pm
Last Updated: Tue, April 01, 2008 - 4:03 pm
Last Updated: Tue, April 01, 2008 - 4:03 pm
They want answers to why the industry's profits are at record highs, and yet the cost of gasoline is flying high for most American consumers.
Oil is, on average, over $100 a barrel and hit $112 on Monday.
Representative Edward Markley of Massachusetts says oil companies have explaining to do.
ExxonMobil senior Vice President J. Stephen Simon says that his company has to "maintain a high profit margin to support programs even during years of less profit."
As for Shell Oil, executive John Hoffmeister says that his company will devout millions of dollars to find ways to produce more energy.
Oil executives say the United States should consider finding places in our own country to drill for petroleum. Many say it is difficult for the U.S. to ask OPEC nations to increase production when we won't do the same thing. Some executives say that the United States should find it's own oil reserves to cutback on our dependence of foreign oil from the Middle East and South America.
Hear lawmaker first, then from oil company executives by click on the video button to the right of this story.
News Map
Email to a Friend 
Printer Friendly 
A gallon of gas is still less than a pack of smokes.
A gallon of gas is still less than a six pack of brew.
A gallon of gas is still les than a cup of starbucks coffee.
A gallon of gas is still less than a gallon of liquer.
A gallon of gas is still less than a dozen doughnuts.
A gallon of gas is still less than a makeover.
A gallon of gas is still less than a haircut.
Seems to me it’s a priority between ones wants and ones needs. It sorta bothers me to hear someone complain about the price of fuel while smoking a cigarette. A single cup of coffee costs about a dollar at any store, how many of those cups does it take to make a gallon?
Now if we could drill of the Florida coast( Which china is taking our oil by drilling off of cuba), it would help. Or explore Anwar. We have options.
To blame the price of fuel on greed is insane! To make money from a product in high demand, I believe, Is called capitalism. One of the things that makes this country great.
Be Blessed!!!