ENRONIZED ! : Evidence the oil industry is purposely driving up gas prices

[Trajan]

http://abclocal.go.com/kgo/news/politics/print_041405_politics_oil.html

Is The Oil Industry Purposely Driving Up Gas Prices?

ABC7 Tape Prompts Further Investigation

Apr. 14 (ABC7) — First Senator Boxer, now State Attorney General Bill Lockyer is asking for transcripts of what an oil refinery executive said about limiting supply - comments made in front of our cameras, by one of the country's biggest independent refiners. ABC7's Mark Matthews reports.

Bill Lockyer saw our story and now wants a transcript of what oil refinery president Hank Kuchta said to fellow refiners at last month's conference. What that refiner said conflicts with oil company explanations of high prices based on supply and demand.

The oil companies tell us high prices are the natural result of demand outstripping supply. This is how President George Bush described it today to a group of newspaper editors. President George W. Bush: "You see, the problem is the supplies are out of balance with demand."

Sounds simple enough. But listen to what the president of Premcor refining told a gathering of refiners here in San Francisco. Hank Kuchta, President & COO of Premcor (3/10/05): "If we go in and we start expanding like crazy before the demand gets there, that's the shoot yourself in the foot theory, and we'd all be the opposite of geniuses, you pick the word. They'd kill us, believe me."

-snip-

Wow; ya think ? ... The Friends of the GOP would NEVER EVER take advantage of poor innocent citizens for their own personal gain through fraud, deceit and lies .. Would they ? ...

(PS: Someone else posted this in yesterday's LBN, but I dont think it got wide enough exposure .... It deserves it)

[acmejack]

1. In 73 when they had the so called oil shortage

I saw laden tankers waiting to offload to the tank farm, all of the tanks were already full and they were using the tanker trucks for storage. But there was no gas?

[JRob]

2. I believe Oil Company revenues have been up

If they're paying more and the cost is passed on, then how do you explain the additional profits?

[HysteryDiagnosis]

3. I knew a ship engineer who told me the

exact same thing... tankers were waiting offshore during the "oil shortage/crisis" ... there was no crisis... repeat, there was no crisis.

If someone would do the math... and see what the percentage that crude has gone up.... vs what percentage gas at the pumps (which shall now be known as gatp) has risen it would be interesting.

On another note... I was on a land rig in LA the other day... the rules and regs were astounding... with regards to pollution, safety, littering... etc. They were going down 20,000 feet... impressive to say the least... and at least they are drilling for oil here and not in some third world nation... for what it is worth.

You may not have much respect for the people who work in the oilfields until you get to work with them and see what they are up against.... how hard they work, and what they have to conform to in order to get it out of the ground. Professional doesn't cut it.

[neebob]

4. I'm no economist, but

if there's gas coming out of the pump, doesn't that mean there's enough supply to meet the demand?

[gizmo1979]

5. They can do whatever they want

what are we going to do about it?Not buy gas?They have us by the shorthairs they know it,so should we.

[KnowerOfLogic]

6. Nobody believed the CA power crisis was a result of manipulation;

they won't believe the current gas situation is the result of deliberate collusion of repuke-allied companies in the oil industry who are taking advantage of the 'security fears' in order to make a killing off american citizens - ignorant, naive Joes and Janes who vote republican among them.