Senators Grill Oil Executives on Prices and Profits
WASHINGTON, Nov. 10 - Five of the country's top oil executives walked into a large Congressional hearing room on Wednesday - one filled with nearly a third of all senators and with hundreds of other people, a dozen of them wearing T-shirts reading "Expose Exxon."
Senators from both parties demanded that the executives defend their record profits, amid soaring retail prices for oil and natural gas and suspicions of gasoline price manipulation. The confrontation was a bit theatrical.
"My constituents think someone rigged the price and someone - them - is getting ripped off," said Senator Pete V. Domenici, Republican of New Mexico. "Are you rigging the price of oil?"
Senator Barbara Boxer, Democrat of California, produced a chart showing that executives were making millions of dollars in salaries, bonuses and stock awards.
"Working people struggle with high gas prices," she said. "And your sacrifice, gentlemen, appears to be nothing."
the article continues with much more.
the truth is that as much as we don't like it, companies are there to make money, not to be nice or pay for others to live. Yes they should not price gouge and yes there definitely should be some serious investigation (not grandstanding theater) into whether or not they have been gouging this past season, but in the end they have no requirement to share their profits with anyone other than their shareholders. I hate it, but its true. In america, once you pay your taxes, your profits are yours.
No comments:
Post a Comment