Thursday, May 22, 2008

Gas prices in Bakersfield. Happy Memorial Day travels to you :)


I read the Oil execs went before the Senate today to explain their record profits...again. Not much seems to have been revealed, but rest assured, they say they "feel" our pain. I'm relieved to hear that. Mind you nothing changes. Angry Senators sought explanations other than "supply and demand" and how they need the profits from "up" years to carry them thru "down" years. Have we had any of those yet? Senator Durbin asked "Is there anybody here that has any concerns about what you're doing to this country with the prices that you're charging and the profits that you're taking?" The titans of America's oil industry sat quietly for a moment. "Senator," replied Exxon's Simon, "We have a lot of concern about that. And we're doing all we can to put downward pressure on prices." Sen. Arlen Specter, R-Pa stated he had heard nothing from the oilmen that would explain "why profits have gone up so high when the consumer is suffering so much."

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