11-9-2005 Oil Company Executives Defend Profits
WASHINGTON - The chiefs of five major oil companies defended the industry's huge profits Wednesday at a Senate hearing where lawmakers said they should explain prices and assure people they're not being gouged.
ExxonMobil, the worlds' largest privately owned oil company, earned nearly $10 billion in the third quarter. Raymond was joined at the witness table by the chief executives of Chevron, ConocoPhillips, BPAmerica and Shell Oil USA.
Together the companies earned more than $25 billion in profits in the July-September quarter as the price of crude oil hit $70 a barrel and gasoline surged to record levels
Raymond said the profits are in line with other industries when profits are compared to the industry's enormous revenues.
WASHINGTON - The chiefs of five major oil companies defended the industry's huge profits Wednesday at a Senate hearing where lawmakers said they should explain prices and assure people they're not being gouged.
ExxonMobil, the worlds' largest privately owned oil company, earned nearly $10 billion in the third quarter. Raymond was joined at the witness table by the chief executives of Chevron, ConocoPhillips, BPAmerica and Shell Oil USA.
Together the companies earned more than $25 billion in profits in the July-September quarter as the price of crude oil hit $70 a barrel and gasoline surged to record levels
Raymond said the profits are in line with other industries when profits are compared to the industry's enormous revenues.
11-9-2005 Oil Barons pull plug on ANWR Drilling.
House Drops Arctic Drilling From Bill
The actions were a stunning setback for those who have tried for years to open a coastal strip of the Arctic National Wildlife Refuge, or ANWR
The move in the House was yet another setback for Bush, whose Social Security overhaul also has stalled in Congress. At the same time, his presidency has been troubled by mounting U.S. casualties in Iraq, the withdrawal of Supreme Court nominee Harriet Miers and the investigation over the leak of a CIA operative's identity.
House Drops Arctic Drilling From Bill
The actions were a stunning setback for those who have tried for years to open a coastal strip of the Arctic National Wildlife Refuge, or ANWR
The move in the House was yet another setback for Bush, whose Social Security overhaul also has stalled in Congress. At the same time, his presidency has been troubled by mounting U.S. casualties in Iraq, the withdrawal of Supreme Court nominee Harriet Miers and the investigation over the leak of a CIA operative's identity.
Vic
Elite Member
- Jun 12, 2001
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Your updated thread title and linked article once again contradict themselves.
You will note btw that prices are going back down, and for exactly the reason that I said they would more than 2 months ago. When you said that Katrina would lead to $6+/gal., I told you that in fact it would be the straw that broke the camel's back, that prices would begin to go down, and that congressional intervention was on the way.
Dave, you missed the funniest part. Senator Stevens from Alaska refused to have the executives swear in.
Yes, I was never opposed to it.
In fact I would open up Florida and California to drilling.
Everyone must share in our energy needs.
Here is today's latest Oil Bullsh!t
Looks like Media is tracking each $1 fall of Oil per Barrel
11-10-2005 Oil Prices Drop Below $58 Per Barrel
These reports gave added momentum to already declining energy futures, a trend that traders attribute to warmer-than-usual autumn weather in the U.S. Northeast and Midwest, and some moderation in gasoline demand due to high prices.
"We don't have any big demand right now. Heating is not upon us yet, cooling is behind us and the summer driving season is behind us," said James Cordier, president of Liberty Trading Group in Tampa, Fla. "If you're going to have a soft spot, this is it."
Cordier said technical charts suggest that oil prices could fall to the mid-$50 range, before finding some support. Moreover, he said the downtrend was likely to be stopped in its tracks by late December, assuming normal winter temperatures.
The IEA lowered its forecast for global oil demand growth in 2005 by 70,000 barrels a day to 1.2 million barrels per day. The agency also said that OPEC's production capacity could rise by 1.2 million barrels per day to 33 million barrels per day by the end of next year.
On Wednesday, the federal Energy Information Administration said crude-oil inventories rose 4.5 million barrels to 323.6 million barrels in the week ended Nov. 4 from a week earlier. Crude stocks are about 13 percent higher than they were a year ago.
With energy prices falling despite the continued loss of output of oil, natural gas and gasoline in the aftermath of hurricanes Katrina and Rita, Cordier said it is a clear indication that the market is being driven by a dropoff in demand.
He added that demand should pick up again later in the year, assuming normal winter weather patterns.
-------------------------------------------------
All a bunch of bull.
There are many in here that accept this bull, hook, line and sinker and buy bridges too.
Looks like Media is tracking each $1 fall of Oil per Barrel
11-10-2005 Oil Prices Drop Below $58 Per Barrel
These reports gave added momentum to already declining energy futures, a trend that traders attribute to warmer-than-usual autumn weather in the U.S. Northeast and Midwest, and some moderation in gasoline demand due to high prices.
"We don't have any big demand right now. Heating is not upon us yet, cooling is behind us and the summer driving season is behind us," said James Cordier, president of Liberty Trading Group in Tampa, Fla. "If you're going to have a soft spot, this is it."
Cordier said technical charts suggest that oil prices could fall to the mid-$50 range, before finding some support. Moreover, he said the downtrend was likely to be stopped in its tracks by late December, assuming normal winter temperatures.
The IEA lowered its forecast for global oil demand growth in 2005 by 70,000 barrels a day to 1.2 million barrels per day. The agency also said that OPEC's production capacity could rise by 1.2 million barrels per day to 33 million barrels per day by the end of next year.
On Wednesday, the federal Energy Information Administration said crude-oil inventories rose 4.5 million barrels to 323.6 million barrels in the week ended Nov. 4 from a week earlier. Crude stocks are about 13 percent higher than they were a year ago.
With energy prices falling despite the continued loss of output of oil, natural gas and gasoline in the aftermath of hurricanes Katrina and Rita, Cordier said it is a clear indication that the market is being driven by a dropoff in demand.
He added that demand should pick up again later in the year, assuming normal winter weather patterns.
-------------------------------------------------
All a bunch of bull.
There are many in here that accept this bull, hook, line and sinker and buy bridges too.
I am not surprised.
I'm sure our resident Bush/Cheney/Republican Apologists will justify this somehow.
11-16-2005 Cheney met with Oil Barons in 2001 to raise prices
WASHINGTON - A White House document shows oil executives met with Vice President Dick Cheney's 2001 energy task force which critics say secretly formed energy policy favorable to the industry, The Washington Post reported on Wednesday.
The document, obtained this week by the newspaper, shows that officials from four major oil companies met in the White House complex with Cheney aides who were formulating the Bush administration's energy policy, the report said.
The newspaper said the document shows that officials from Exxon MobilCorp., Conoco (before its merger with Phillips), Shell Oil Co. and BP America Inc. met with the Cheney aides.
I'm sure our resident Bush/Cheney/Republican Apologists will justify this somehow.
11-16-2005 Cheney met with Oil Barons in 2001 to raise prices
WASHINGTON - A White House document shows oil executives met with Vice President Dick Cheney's 2001 energy task force which critics say secretly formed energy policy favorable to the industry, The Washington Post reported on Wednesday.
The document, obtained this week by the newspaper, shows that officials from four major oil companies met in the White House complex with Cheney aides who were formulating the Bush administration's energy policy, the report said.
The newspaper said the document shows that officials from Exxon MobilCorp., Conoco (before its merger with Phillips), Shell Oil Co. and BP America Inc. met with the Cheney aides.
From the same article: << During a Senate hearing last week, chief executives of the major oil companies either denied that their firms participated in the task force or that they did not know, the newspaper said.>>
Of course, they have absolutely nothing to hide.
Of course, they have absolutely nothing to hide.
Originally posted by: dmcowen674
Back over $60
Gas approaching $3 gallon again down here. Enjoy
Yep, the right will come out and say "Well, it's not as high as it's been so that's good news!"
Closing in on 60 cents higher/gallon than last year and still rising...good news indeed!
Anything that takes money out of the unwashed middle class scumbag pockets simply CAN'T be a bad thing for Amerikkka!
I am so saddened by a commercial I saw today by Conoco-Philips called "Elevate".
It says there is a gap between energy supplied today and available for tomorrow and they show various things with half power.
It is absolutely disgusting that the American Sheeple buy this crap.
Americans are Officially the dumbest humans on the planet.
It says there is a gap between energy supplied today and available for tomorrow and they show various things with half power.
It is absolutely disgusting that the American Sheeple buy this crap.
Americans are Officially the dumbest humans on the planet.
I realized this the very first time I travelled overseas... and, after a few years of living overseas, I came to realize the extent of brainwashing we are subject to in America.
"Unjust wars? Corrupt and bankrupt government? Social injustice and unrest?
Don't worry! We're America... just relax and consume and everything will be fine.
No need to think about unpleasant details."
Although I have never been outside of the U.S., I have talked with and continue to talk with many people from around the world including your Country.
It mainly started when I was subjected to personal with hunt type political persecution here and many people from many Countries around the world came to my aid.
The Sheeple of the U.S. don't realize it yet but they are now an oppressed people that they have always feared and tried to change. Brainwashing is so complete and so sucessful.
I leave 2 1/2 weeks ago and gas was about $1.88. I come home and find it now at $2.29.
And my utility bill came in (all-electric here in a 3BR apt.) Nov bill was $60...this month's (including the fact I was gone for 2 1/2 weeks)? $110!
WTF?
And my utility bill came in (all-electric here in a 3BR apt.) Nov bill was $60...this month's (including the fact I was gone for 2 1/2 weeks)? $110!
WTF?
The best government money can buy. All regulation is out the window. It's like it's 1905 again, not 2005.
LOL, same here. My little 2BR apt LAST YEAR to heat was $160/month minimum. I'm cringing to think what it's going to be this year. Mission Accomplished!
Oil Analysts, Wrong Since 2001, End Forecasts of Price Drop
http://www.bloomberg.com/apps/news?pid=...&sid=ayVpj12sAFcw&refer=top_world_news
http://www.bloomberg.com/apps/news?pid=...&sid=ayVpj12sAFcw&refer=top_world_news
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