Oil Execs Defend Huge Profits Before Senate

by momzcrazy 143 Replies latest social current

  • shamus100
    shamus100

    You're right Chris,

    It's not just the U.S. here - and it's not George Bush. It's all the countries fault. We need new energy sources, and the re-invented energy source now is nuclear.

    The next thing that everyone will see is a dramatic increase in Natural Gas. Wait for that one - coming in the next year.

  • llbh
    llbh

    Fwiw France derived 75% of its electricity fron Nuclear power . It has a an array of Nuclear Stations alolng the Loire River- has for years.

    I agree the real step change will be when we solve the problem of converting water into its component parts of hydrogen and oxygen

    On a personal level we cut our home energy consumption by 30 % by improved insulattion

    Regards David

  • dinah
    dinah
    A moron, that did nothing. Even worse, he allowed the speculators to run rampant and his administration changed laws to make it happen. It's not big oil driving the price, nor China, nor the lack of refining, don't kid yourself. It's the speculators.

    Can't believe I agree with Indo, but hey......

    Gas jumped after Hurricane Katrina because of the possibility of supply being hampered. The speculators and OPEC are in bed together. Wonder who's pitching and who's catching?

  • Big Tex
    Big Tex
    On a personal level we cut our home energy consumption by 30 % by improved insulattion

    Agreed. We're spending $2,000 and installing a radiant barrier on the inside of our roof and an additional solar powered attic fan. I've looked at it, and from what I've read it is supposed to cut electricity use, mainly through lower A/C usage, anywhere from 20% to 30%. It's expensive, but I'm hoping it pays off in the long run.

    My big dream, foolish I know, is to find a way to get off the grid and be energy self-sufficient.

  • Highlander
    Highlander
    I think when gas prices level out it will still be around $3 a gallon.

    We agree there was a market correction, and I have no disagreement with the effect that speculators have on the market. Much like the housing bubble, it would not surprise me to see an oil bubble.

    I do hope you are wrong that oil comes down to 3 dollars per gallon. In my opinion that is not enough incentive to make long term changes in this country. Ultimately I'm not all that interested in what is causing high fuel prices. I only wish that people would understand that high prices are a necessary evil. Only when you affect someone's pocketbook, will you get them off their asses to do the right thing. If prices are too cheap, there is zero incentive to seek out alternatives.

    I also agree that we should have started down this road thirty years ago. The reason we didn't? I'm betting cheap fuel for the last 2+ decades had a lot to do with it. Here's to hoping the prices stay high.

  • Highlander
    Highlander
    My big dream, foolish I know, is to find a way to get off the grid and be energy self-sufficient.

    Even better, if you could have a surprlus of electricity that you put back into the grid forcing the electric companies to send you a check each month.

  • Big Tex
    Big Tex
    I do hope you are wrong that oil comes down to 3 dollars per gallon. In my opinion that is not enough incentive to make long term changes in this country. Ultimately I'm not all that interested in what is causing high fuel prices. I only wish that people would understand that high prices are a necessary evil. Only when you affect someone's pocketbook, will you get them off their asses to do the right thing. If prices are too cheap, there is zero incentive to seek out alternatives.

    I cannot disagree with you more.

    I believe if you give people real choices, they will be able to choose, in the long run, what is best. Seriously, if gasoline is at 90 cents at gallon and there are no mass transit options, no hybrids, no electric cars available, what can you realistically expect? Likewise with mass transit, and city leaders, state leaders, and federal leaders build an entire national infrastracutre based on cheap oil, it's the poor schmuck's fault for taking a 2 hour business trip on an airplane instead of the same trip at 18 hours on a train that costs twice as much? Or the commuter who faces a 45 minute car ride to work versus taking the joke of a mass transit system that costs the same amount of money and takes 90 minutes? C'mon!

    It is the fault of several Presidential administrations, numerous Congresses and every *(*@!!! state and local government that we're in the fix we're in. Now could the average person have demanded change? Of course. And some of us have. And look where that's gotten us. Change must take place from the top down and so far we've elected fools and smarmy liars who have told us what we wanted to hear.

    I'm convinced government at every level has stuck their head in the sand because it's been easier, and more profitable. The prospect of expensive oil has been like the 900 pound gorilla in the room no one wants to talk about. Having said that, the markets will correct themselves but it may very well take a year or two or three before gas prices drop. If memory serves, we didn't do just a whole lot about correcting our behavior in the late 70's and early 80's when gas prices were close to this level (adjusted for inflation).

    I still maintain if the federal government organizes a Manhattan Project-like effort to come up with alternative energy sources, it would happen within a decade. Then of course there is the matter of absorbing such change into the national infrastructure. But I'm also convinced that such an effort hasn't been undertaken because it's far easier to tell the voter what they want to hear and to focus on much more critical matters like gay marriage.

  • Big Tex
    Big Tex
    Even better, if you could have a surprlus of electricity that you put back into the grid forcing the electric companies to send you a check each month.

    Texas isn't set up to do so. There is no way to send power up the grid here. Assuming of course I had the $50,000 to set up solar panels in my back yard to do so.

  • flipper
    flipper

    MOMZCRAZY - I was swearing at the gas pump last night - and anybody else that would listen when I was filling up at $4.19 per gallon ! I said, " Jesus- just last week I paid $ 3.89 per gallon ! 30 cents less ! " it's getting ri-goddamned diculous if you ask me ! I told the guys filling up at the island near me - " I want Dick Cheney's head on a silver platter - as well as Haliburton ! " Now I'm paying about $ 40.00 a day - 5 days a week to go to work ! $ 800.00 per month. That's just wrong. I think there is a big conspiracy that the elite rich in this country are trying to get rid of the " middle class " - and just make it 2 classes- the wealthy and the poor. It is all in their grand plan ! Sick twisted bastards

  • Highlander
    Highlander
    Change must take place from the top down and so far we've elected fools and smarmy liars who have told us what we wanted to hear.

    So I guess it's all the fault of those few elected officials whom we put into office.

    I have no problem admitting that I'm at fault for making bad choices. Ah what the hell, I'll even take full responsibility for the entire world's energy crisis as it seems the majority want to put the blame on the backs of the elected officials, whom we put into office.

    I don't understand why people have an inability to be accountable for their own actions and accept their equal ownership in the problem. Instead they look to blame everyone else. Big oil companies, mid east countries, government, etc.

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