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Big Oil Reaps BIG Profits Using Ukraine As the Reason Why ...yet this nonsense is increasing the cost of living BIG Time as in groceries,

Razoo

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AMY GOODMAN: On Capitol Hill, House lawmakers grilled executives from some of the largest oil and gas companies Wednesday, accusing them of price gouging consumers even as they rake in record profits. Democrats on the House Energy and Commerce Committee accused fossil fuel executives of exploiting the pandemic and the war in Ukraine to pad their bottom lines. This is Committee Chair California [sic] Democrat Diana DeGette — Colorado Democrat Diana DeGette.

REP. DIANA DeGETTE: If the price of gas is driven by the global market, why is the price of oil coming down, but the price at the pump is still near record highs? If it’s an issue of supply and demand, wouldn’t that be reflected in the global price of oil, as well? Something just doesn’t add up.
AMY GOODMAN: That’s Colorado Democrat DeGette. Meanwhile, Republicans used Wednesday’s hearing on high gas prices to support the Big Oil companies. This is Republican Ohio Congressmember Bill Johnson.

REP. BILL JOHNSON: For heaven’s sakes, they’re blaming you for high gas prices, for inflation, for bad weather and all the world’s problems that their failed policies are actually causing. Your industry has a lot to be proud of.
AMY GOODMAN: Executives from ExxonMobil, Chevron, BPAmerica, Shell USA and other companies testified virtually during the hearing, even though they were invited to appear in person. ExxonMobil CEO Darren Woods claimed the solution to higher prices at the pump is to increase oil and gas production.

DARREN WOODS: Today Russia provides roughly 10% of the oil needed to meet global demand and about 30% of Europe’s natural gas demand. A loss of this volume will be much more significant than the impact of the oil — Arab oil embargo and would represent the largest supply disruption in the history of our industry. Unfortunately, there’s no quick fix. But in the near term, the answer is straightforward: If we want to reduce prices, we need to increase supply.
AMY GOODMAN: This comes as a new report by Friends of the Earth, Public Citizen and BailoutWatch looked at the financial records of ExxonMobil, Chevron, ConocoPhillips and others and found they’ve increased stock buybacks and dividends since Russia invaded Ukraine, enriching investors instead of reducing oil and gas prices for consumers. BailoutWatch data analyst Christopher Kuveke said, quote, “The actions of these oil executives make it clear that no matter how much they groan about the Biden Administration’s environmental policies and blame Putin for high prices, their focus remains entirely on lining their own pockets,” he said.

For more, we’re joined by two guests: Bill McKibben, author, educator, environmentalist, founder of Third Act, which organizes people over 60 for progressive change, also co-founded 350.org, and, in Ukraine, we’re joined by Svitlana Romanko, the Ukrainian climate activist and longtime environmental lawyer, who wrote a Los Angeles [Times] op-ed with McKibben last month headlined “The Ukraine war is a decision point — banks should stop funding the fossil fuel industry forever.”

We welcome you both back to Democracy Now! Bill McKibben, let’s begin with you and the Big Oil hearing. What was your takeaway?

BILL McKIBBEN:
 
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Time to hit big oil in the pocket........ just as it is hitting every taxpayer in the pocket.
 

Letters: Oil companies profit from misery in Ukraine​

https://www.cincinnati.com › story › news › 2022/03/14

Mar 14, 2022 — Big oil's windfall profits should be taxed and returned to the rest of us to help with the extra cost of filling our tanks.
Missing: Reaps ‎| Must include: Reaps


Big Oil Is Trying to Profit from the War in Ukraine - Common ...​

https://www.commondreams.org › views › 2022/02/27

Feb 27, 2022 — The reason the industry wants more land isn't to rush oil and gas to Ukraine, but so they can claim more reserves and inflate their perceived ...
Missing: Reaps ‎| Must include: Reaps


Big oil could bring US gas prices down but won't - The Guardian​

https://www.theguardian.com › commentisfree › mar

Mar 20, 2022 — The bill would tax the largest oil companies, which are recording their biggest profits in years, and use the money to provide quarterly ...
 
Well, because of Putin’s brutal war on Ukraine, the price of oil is skyrocketing. The big oil companies are thrilled. The rest of us are hurting.

Big oil’s windfall profits should be taxed and returned to the rest of us to help with the extra cost of filling our tanks. They shouldn’t be profiting off the misery in Ukraine.

Tony Potochnik, Newport

Lower highway speeds save gas, money and lives​

As nations support the people of Ukraine by eliminating dependence on Russian oil and, as a result, contribute to rising gasoline prices, it is worth noting that once a vehicle has reached its optimal fuel economy – generally 35 to 50 mph – gas mileage decreases.

According to fueleconomy.gov, a car that gets approximately 27 miles per gallon at 65 mph will get 25 miles per gallon at 70 mph and only 20 miles per gallon at 80 mph. Or, as fueleconomy.gov points out, "You can assume that each 5 mph you drive over 50 mph is like paying an additional $0.24 per gallon for gas."
 
Biden should sign an executive order mandating only electric vehicles are allowed on the roads. Problem solved, climate saved, high gasoline prices no longer an issue.
 
Biden should sign an executive order mandating only electric vehicles are allowed on the roads. Problem solved, climate saved, high gasoline prices no longer an issue.

Great idea! The impact on the US economy should help the republicants in the mid-terms. Let’s go Brandon!
 
That is a great idea. A new industry will suddenly be off and running, excellent paying jobs will be everywhere then we can celebrate MAGA Make America Green Always.

There will be a massive quiet about America as the rumbling sound of fossil fuel motors will have been put to sleep.

THINK GREEN ECONOMIC GROWTH THROUGHOUT AMERICA..........
 
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