Where the hell are the oil profiteering investigations?!?

[KelleyKramer]

Gas prices are insane, its a total rip-off.

Why is nothing being done?

How many reports of the oil companies making multi BILLION's of record profits do we have to see?

Its indisputable.. We are being fleeced.

Congress and the government refuse to do anything.

Nothing!

Its time to throw these corrupt bums out

[Pierzin]

1. Indeed. Where are they??? Greg Pallast had it right from the start.

BP has known for years that those pipes are corroded. They stand to make a tidy profit now with the ME in flames. Yada yada yada... God

[BattyDem]

2. They've been put into storage with ...

honest elections, a humble foreign policy and The Constitution. :-(

[AZBlue]

3. That, like impeachment, will only happen if Dems regain control this fall.

[BuyingThyme]

4. I hearing more about the availability of gas in Lebanon

than about the price of gas here.

The new war of choice has so many advantages.

[rurallib]

5. Ha Ha Ha. this is a joke right? There were never going to be any

real investigations.
Oh, wait. They are scheduled to start right after the independent 9/11 investigation and the investigation on how we got into Iraq. Should be soon.

[Name removed]

6. Deleted message

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[MiniMe]

7. Investigations?? With this repuke congress??

:rofl: :rofl: :rofl: :rofl: :rofl:

[Skittles]

8. I'm sure the two oil bastards in the White House will get right on it

yes

[Spider Jerusalem]

9. Corruption has nothing to do with the price of gasoline.

It's simple economics. The price of oil is set on world markets, and fluctuates according to supply and demand. With oil in the range of $73-75 a barrel the price of gasoline is accordingly high. As a point of comparison, when gasoline was around a dollar a gallon, the price of oil was in the range of $20-28 a barrel (and a simple calculation will show that the price of gasoline still bears approximately the same relationship to the price of oil); global demand was also some 10-15% LOWER at that time, and there was far more excess capacity (there's almost none now, and any supply disruption is enough to cause major price spikes due to demand imbalance).

No-one is being 'fleeced'; if you want to blame this on anyone, blame it on India and China. They're responsible for most of the demand growth over the past 8 years or so, and it's their presence as major players in world oil markets that's caused increased economic competition over oil supplies and led to current crude oil price levels. The same increased demand and competition (and supply constraints) that cause higher prices also cause higher profits for oil companies (because their costs for exploration and extraction are relatively fixed, while the price of oil is set on commodity markets).

[B Calm]

10. Republican congress looked in to it about a year ago and

didn't find anything!

[INdemo]

11. Investors are making millions

buying long and short oil contracts on the commodities market..Don't expect any relief soon..Insider trading ? Of course