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9Local politics, the county, and the world, as viewed by Tammy Maygra Tammy’s views are her own, and do not necessarily reflect the views of Bill Eagle, his pastor, Tammy’s neighbors, Wayne Mayo, Betsy Johnson, Brad Witt, Former President Trump, Henry Heimuller, Joe Biden, Pat Robertson, Ted Cruz, Joe Biden’s dogs, or Claudia Eagle’s Cats. This Tammy’s Take (with the exception of this disclaimer) is not paid for or written by, or even reviewed by anyone but Tammy and she refuses to be bullied by anyone. See Bill’s Standard Disclaimer
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Big Oil Reaps Record Profits, Using The Ukraine War
As The Con Job To Rape Consumers
House Democrats questioned CEOs of Big Oil companies, the House Energy and Commerce Committee accused fossil fuel executives of exploiting the pandemic and the war in Ukraine to pad their bottom lines. like ExxonMobil, Chevron and Shell, Wednesday about rising gas prices and exploiting customers from the Ukraine war. These are predatory companies that have used every excuse and this is one of the lowest yet to try and increase their profit margins. By ending Putins war on Ukraine it would end the raping of consumers by big oil.
One question asked by Colorado REP. DIANA DeGETTE: Democrat Committee member was; 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?
Republican REP. BILL JOHNSON: Answered 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. The Republicans supported Big Oil and evidently likes the way Big Oil is Raping the consumers.
Big Oil testified virtually although they were invited to speak in person, their excuse to the high prices was, 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.
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. Nothing new there.
I wonder if you recall the friendship between oil executives and Putin? recall that Darren Woods’ predecessor, Rex Tillerson, was such a friend of Vladimir Putin’s that Putin literally pinned a medal on him, the Order of Friendship, at Putin’s dacha outside Moscow, because Exxon was perfectly willing, knowing just what kind of regime Putin was running, to invest hundreds of billions of dollars in trying to get at Arctic oil. They are using the war as a cover to do their dirty work. And so far they are getting away with it.
Guess who else got their start from oil deal in Russia? The Koch brothers, our biggest oil and gas barons, who are still doing business in Russia right now, they got their start and the family fortune was founded building refineries for Stalin. So their protests are ringing false.
Senator Whitehouse’s proposal is to institute the Windfall Tax Act, he is trying to get it passed through the senate, that would make these CEOs pay a price for raping the consumers. It would send back $250 to every American to help defer the high gas prices. It would take money from these companies who use it to buy off the Senators such as Joe Manchin, who’s single-handedly held up any work on climate change in the Biden administration, is the biggest receiver of those fossil fuel dollars. So why wouldn’t Manchin hold up climate changes, if he did he would reduce his personal funding from doing favors for Big Oil.
Tammy
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President Biden is taping oil reserves To try and ease the pain at the pump. While Big Oil is making record profits, Using the war as a cover-up. |