Think the Democrats will bring Big Oil executives to Washington?

Question

I have a opinion are the democrats wasting time drilling oil execs about profits, or big oil has ripped off the taxpayers. I know oil industry works like a crime family with collusion so not to miss out on profit maxization. Yet, I don't see oil companies jacking prices up so high to cut into profit margins. Figure oil industry needs those profits since oil exploration is so ineffiecent a pratice to begin with. Its costs a of money to poke the earth to look for oil at times.

Answer 1

Republicans already have the oil giants in Washington. That's why the prices went down when they were running for office. But they did jack up the prices while the Republicans reigned -- and made $9 BILLION in profits in one QUARTER. Working people had to get rid of their cars and take the bus.

Support the new government. They will need your ideas and help.

Answer 2

I'm just curious as to where all the offers to help Big Oil were when oil was less than $20 a barrel and Oil companies were closing down refineries and laying off workers and cementing in wells because they couldn't make a profit? I work in the industry (not as an exec, as a field hand) and there were many years in the late '80s and early 90's that these big companies lost Millions of dollars. The only reason they were able to stay in business was becasue tehy were so big. Now when times have changed, who can blame them for grabbing profits while they can??? If you look at the history of the Oil Industry it is a boom to bust to boom to bust cycle....so they are simply acting on what has occured in the past, make big profits now, becasue in a few years you will be losing your a** again! Already Oil prices have started to drop and big oil is looking at falling profits. I want to hear from you folks offering to pay a little more at the pump when the oil companies are losing $150 million a year!

Answer 3

I dont think that in a Captilist society anyone has any right to haul a company before Congress and ask them to reduce thier prices. What if you had a buisness and were making a ton of money and some congressman called and said "Hey i think your making to much money you need to cut your prices a little bit." you would be furious. Whats driving the demand is growth in China and India. If we can get the situation in the Middle East calmed down for an extended period of time prices would go down alot because the traders on Wall Street wouldnt panic that OPEC was gonna try and mess with production output. Dont take this the wrong way im not trying to sound meanspirited just making a point.

Answer 4

oil is the least capitalistic and most unAmerican business that is doing business right now in America... in my opinion

all the way from the OPEC cartel - that is blatantly hurting America- to the borderline oil monopolies, where a very few companies control the vast majority of the oil production...

congress should step up and break down OPEC with some exclusive oil deals and break up these oil companies, just like they did will Bell...

everyone has to have it... when they tripple the price (like they nearly did post-Kartina) and consumption drops only a little, that's a sign that "profit maximization" isn't a big issue

Answer 5

the big oil execs are already there are you blind?

Answer 6

"Drilling oil" exec's, now thats funny.