Oil Giants Continue to Benefit From U.S. Energy Policy;Consumers Pay Price

[rodeodance]

http://www.commondreams.org/news2006/0808-07.htm

FOR IMMEDIATE RELEASE
AUGUST 8, 2006
10:19 AM


CONTACT: Consumers Union
Mark Cooper, 301-807-1623
Jennifer Fuson, 202-462-6262, or [email protected]

Oil Giants Continue to Benefit From U.S. Energy Policy;Consumers Pay Price


WASHINGTON - August 8 - One year after the Administration's energy policy was signed into law, consumers are paying record high prices for gas and the majority of the cost increases have turned into profits for domestic oil companies.

"As gasoline prices and oil industry profits hit record high levels, so too has public frustration and concern," said Ann Wright, senior policy analyst for Consumers Union. "The oil companies continue to be the largest benefactors of our nation's energy policy -- not the American public."

"Time to Change the Record in Energy Policy," a report released today by the Consumer Federation of America (CFA) and Consumers Union (CU) shows the following:

-- The increase in the domestic refiner/market spread -- the amount oil companies take for domestic refining and marketing -- since last summer is about 34 cents per gallon, which is more than the increase in crude oil costs (about 31 cents).

[jpkenny]

1. There was an announcement that Cheney and Admin were celebrating

the anniversary of their energy policy and well they should. They have accomplished everything they set out to accomplish: screwing the working and middle class, higher profits and stocks than ever, endless war in the ME for as long as anyone can see, and government subsidies to oil companies and laws that ensure all this will remain in tact for as long as Republicans control Congress.

[dbt]

2. Bump!

(Deliberate use of forbidden word.)

:evilgrin:
dbt
Remember New Orleans

[OneBlueSky]

3. that's what happens when oilmen steal elections . . . n/t

.

[radfringe]

4. interesting chart - Current Gas Prices and Price History

http://zfacts.com/p/35.html

[NashVegas]

8. That Chart is Way Off

For the late 1970s/early 1980s.

I got my permit in 1979, license in 1981, when prices were about .62-.68 per gallon in upstate NY, after having hit highs of somewhere in the mid-high 80s.

Before Irag invaded Kuwait, it ran from about .90-$1.10 cents per. During the Gulf war, they spiked just under $1.50 then went back down to about $1.15

[Zodiak]

10. The numbers are adjusted to today's dollars

That is why the prices to not match your memory

[modrepub]

9. Couple of comments

Interesting how the consumer has weathered this storm. If the graph is correct than we are worse off than the embargo years and gas rationing. How do we do it? Thank the rise in dual income house holds in my opinion. There was a major shift in the late 70s to dual income families so we are better equipped to "absorb" the higher costs. Sorry the rest of ya but I'm cutting back to pay for gas! I hate talking heads!!!!!

What happens when everyone's electric bills go up 100% next year when deregulation is set to end? What you didn't hear about that? Well that's the other shoe that's about to drop!

[mbperrin]

5. Now that's a shock!

Corporate 'Murika being favored over good clean individual citizens? Can't be! Why does Consumers Union hate America?

Hey....don't COnsumers and COmmunism start with the same letters? Thought so!!!:sarcasm:

[fshrink]

6. Duh.

[The2ndWheel]

7. Well, we keep using the stuff

I hate oil companies as much as the next guy, but we're not stopping our consumption.

[sakabatou]

11. Well seing that they get almost $2000 a second

It's not suprising.

[indepat]

12. The energy policy was designed for big oil, rather the public, to be the

benefactor: any one not realizing this is a stupid, ignorant, god-damned fool and a f-ing poltroon to boot for good measure IMO.

[Megahurtz]

13. And Stinkin' Up the Planet on Top of That!

What a wonderful place we live in. :sarcasm: