Monday, May 08, 2006

Evidence of Big Oil's Price Gouging?

I was reading this article from Dateline about ethanol, a possibly easier solution to the problems at the pump. On the second page of this article, the entrepreneur who is pushing strongly for the use of ethanol says something very profound:

Phillips: Do you believe oil companies would deliberately drop the price of oil? Khosla: Absolutely. A senior executive of a major oil company came up to me and said, “Be careful.” In a very warning tone he said, “Be careful, we can drop the price of gasoline.”
Anyone who doesn't think Big Oil cannot drop the price of oil, especially after Exxon's massive record historic huge gigantic profits recently..... And who pays the politicians? Who funds them the most? Take a look (two thirds of the way down the page):
Major Oil Company Lobbying Expenditures in 2005 4/26/2006 The top ten oil companies reported spending $33,173,092 lobbying the Congress and the Executive branches in 2005. Use PoliticalMoneyLine’s Lobby databases to search financial figures going back to 1998. * ChevronTexaco $8,550,000 * ExxonMobil $7,140,000 * ConocoPhillips $5,098,084 * Marathon $4,290,000 * BP $2,880,000 * Occidental $2,042,177 * Shell $1,478,831 * Ashland $904,000 * Sunoco $540,000 * Anadarko $250,000
Take a look here also. Notice who gets the most money from oil company lobbyists. Yes, President George W. Bush
When it came to tapping the oil industry for campaign dollars, no one has come close to former Texas oilman George W. Bush. The president has received $1.7 million in campaign cash from the oil and gas industry. That was more than three times the amount given to the next biggest recipient of the industry's largesse, House Energy and Commerce Committee Chairman and fellow Texan Joe Barton, who collected $574,000. Next came another Texas Republican, House Majority Leader Tom DeLay, who took in just under $500,000.

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