Oil exec's say soaring costs hurt them too... - Mercedes-Benz Forum

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post #1 of 35 (permalink) Old 05-22-2008, 10:27 AM Thread Starter
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Oil exec's say soaring costs hurt them too...

In another "for show" Congressional hearing, lawmakers tried hard to beat-up on Big Oil. As everyone knows, they are just showboating for constituent-consumption before they go back to districts over big-driving holiday weekend. They are pathetic pretending they are "...doing something about the crisis." As if they or anyone else had any control over the situation.

The oil company executives set them straight: "...the fundamental laws of supply and demand are at work," said John Hofmeister, president of Shell Oil Company, the U.S. subsidiary of Royal Dutch Shell."

"Prime drilling acreage in Alaska and the Outer Continental Shelf off the U.S. coast are off-limits and international oil companies are at a growing disadvantage to government-owned companies like Saudi Aramco and Venezuela's PDVSA, executives said."

Exxon Mobil, the No. 1 U.S. oil company, "...makes about 4 cents on every gallon of gasoline it sells in the United states, down from 10 cents a gallon in 2007, due mainly to higher oil costs," said Senior Vice President Stephen Simon.

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post #2 of 35 (permalink) Old 05-22-2008, 10:37 AM
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BULLSHIT !!!!!!!!!!



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post #3 of 35 (permalink) Old 05-22-2008, 10:46 AM Thread Starter
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Well, I guess that nullifies my OP...

Astute and articulate?

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post #4 of 35 (permalink) Old 05-22-2008, 11:13 AM
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so profit margin per gallon dropped so how in the hell did their overall profit jump sky high? Let me guess, they drilled into a fountain of money by accident....
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post #5 of 35 (permalink) Old 05-22-2008, 11:16 AM
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so profit margin per gallon dropped so how in the hell did their overall profit jump sky high? Let me guess, they drilled into a fountain of money by accident....

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post #6 of 35 (permalink) Old 05-22-2008, 11:19 AM
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exactly



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post #7 of 35 (permalink) Old 05-22-2008, 11:29 AM
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so profit margin per gallon dropped so how in the hell did their overall profit jump sky high? Let me guess, they drilled into a fountain of money by accident....
Drewpuff: you make me wonder what it's like to live in a world where no one, nobody, ever tells you the truth.

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post #8 of 35 (permalink) Old 05-22-2008, 11:34 AM
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Drewpuff: you make me wonder what it's like to live in a world where no one, nobody, ever tells you the truth.
well you're right, I should start getting my news from Fox News
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post #9 of 35 (permalink) Old 05-22-2008, 11:36 AM
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well you're right, I should start getting my news from Fox News

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post #10 of 35 (permalink) Old 05-22-2008, 11:44 AM
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Just you wait. These guys are all going to embrace national health care reform once they're forced to suffer the indignities of a 7-figure salary.

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