Bush Says Don't Expect Oil Price Breaks

[deminks]

http://news.yahoo.com/s/ap/20060201/ap_on_go_pr_wh/bush_interview_9

NASHVILLE, Tenn. - President Bush defended the huge profits of Exxon Mobil Corp. Wednesday, saying they are simply the result of the marketplace and that consumers socked with soaring energy costs should not expect price breaks.

Bush, a former Texas oilman, said of oil costs, "I think that basically the price is determined by the marketplace and that's the way it should be."

Early this week, Exxon reported record profits of $10.71 billion for the fourth quarter and $36.13 billion for the year — the largest of any U.S. company. While some politicians raised furious objections, Bush had a different reaction.

"There is a marketplace in American society," he said.

"There's also a responsibility for energy companies to continue to invest and improve the ways that the American people can get energy," he said. "I would very much hope that Exxon would participate in the development of a pipeline out of Alaska, for example, in order to make sure there's more natural gas available for families and small business owners so the economy will grow."

[corporatemedia]

1. "There's a marketplace in American Society" but unfortunatley more and ,..

more people can't afford to shop there and are having to go to a FOOD BANK.

[cantstandbush]

32. So instead of jawboning the oil companies to hold the line he gives them

sanction to go ahead raise their prices even more. The bastard!

[chelsea0011]

2. What a smart guy we have as a President.

[yorkiemommie1]

3. Bush says. " tough s----ky" to you all

...n/t

[m0nkeyneck]

4. the idiot is correct…

energy will only get more expensive for the foreseeable future

[bluedog]

5. OIL PAID BIG FOR THIS PRESIDENT

And like a drug dealer he delivered.
- Cut funding of alternative energy in _every_ budget he submitted
- Gave tax breaks to people who bought large MPG vehicles
- Cut tax incentives to high efficiency vehicles
- Tapped the Federal oil reserve one time for such a small amount it failed to impact the price at all.
- Has been filling the federal oil reserve at top $$ prices
- Failed to take the offer of the auto industry to increase 3 mpg on 2006 vehicles. A change they claim cost next to nothing but was not being demanded by the customers. Seems that it would be good sense for "America" but GW believes oil companies are America.


As for the "we have not build a refinery in ..." crowd - the oil companies said in Congressional hearings last summer they have not build any because it would _LOWER_ fuel prices. Not because of any type of government regs.

As for ANWR - because that will come next - it is heavy crude that would be sold overseas because we use sweet crude. Again another misleading statement/lie.

[LiberalEsto]

6. Of course not. Exxon and Shell

haven't made ENOUGH obscene profits yet. There's more to be squeezed out of us peasants.

[Tight_rope]

7. Ahgrrrrrrrrr....I truly despise the chimperior

[global1]

8. Bush's Addicted To Oil Statement In The SOTU Address Was...

just put there to justify the continued gouging of the American people by the oil companies.

[smtpgirl]

25. that statement that 'Murika is adicted to oil

is complete, total bullshit, as if anyone could not assess that for themselves.


I watched that SOTU until that statement and reflected from news that Exxon has made more $ than any American Co., EVER

[Cobalt Violet]

9. I guess were all suppose to drill for oil in our back yards.

And grow our own food and do our own medical procedures if we've been priced out of the market.

[wordpix2]

10. asking for Exxon gas pipeline in Alaska--how about the alternative energy

* was stressing last night? He's already ignoring his own platitudes

[Lorien]

18. Drilling in alaska isn't about the oil-it's about funding Halliburtan and

KBR to build the infrastructure-and the symbolic defeat of liberalism.

[ninkasi]

11. Would someone who understands economics

Please explain to me how it's letting the marketplace set prices, when we taxpayers subsidize them with our tax money, then give them even more tax breaks? We pay twice...with the government giving our tax dollars to energy companies, then with the price we pay at the pumps.

I was reading the message board at Yahoo about this article, and one said..."And I voted for this crooked bastard? Somebody shoot me." I have a feeling more and more former Bush supporters are feeling the same way now.

[booksenkatz]

29. And they can explain to me why

it's ok for the energy fellers to price gouge make a hefty profit, but let the ice sellers, treecutters and generator salesmen try it during/after a power outage/hurricane and they get in trouble for it.
:shrug:

I'm defending neither practice, just trying to understand that good ole Bush marketplace.

[RUMMYisFROSTED]

30. Don't forget- we and other Governments also give them the

land and the waters to do their drilling.

We pay thrice.

[RDANGELO]

12. Yes, it is a marketplace, with little competition.

That means the consumer gets screwed without government regulation. If their is too few suppliers they will inevitably collude to gouge the consumers.

[Barrett808]

14. Don't ask him to spell (or say) "oligopoly" n/t

[pinkpops]

16. yep but not just little competition - outright collusion

[wordpix2]

24. I think you're right and I suspect price fixing, not just price gouging

Price fixing, I believe, is against the law.

But that's seldom stopped BushCo and Big Oil before.

[brentspeak]

20. That's pretty much the story.

Today's Republicans have destroyed the old Republicans' (TR) anti-trust legacy.

[shanti]

13. of course not

the profits are for HIM...and his friends! :grr: :mad:

[hadrons]

15. please forward this to every Bush-voting idiot you know ....

[0rganism]

17. In fact, don't expect jack shit for anything, unless you're already rich

You know, I think the next couple years may be refreshing in terms of the candor that will occasionally spill forth from the puppet's mouth. What does he have to lose, really? He is the lamest of lame ducks.

[Disturbed]

19. Mussolini's Corporatist Model is...the goal...

of the Neo Fascists Regime that staged a coup in America. This Silverspoon Sociopath is an arrogant Sock Puppet of the Multi-Corps and an enemey of the Working Class.

[brentspeak]

21. Bush: Don't expect any help from your president

Suckers.

[VegasWolf]

22. bush shrugging his little shoulders says, "heh, heh. heh, oil prices

dropping? Not on my watch."

[wordpix2]

23. Economics 101. If a barrel of oil goes up 20%/yr. & BigOil's profit is

up 40% in same year, the profit is not exactly based on cost of a barrel of oil. But---why did all the Big Oil corps. prices go up at the same rate? Could they be price fixing???

Oh, no, not Big Oil, it wouldn't do that to the hard-working American family.
:sarcasm:

snip:
Bush dismissed the idea of increasing fuel efficiency standards for cars, trucks and SUVs as a way of curbing foreign oil dependence. "My plan is to diversify away from oil. ... You're asking questions about how you deal with cars running on gasoline made from oil, I'm telling you let's get some cars running on fuel other than oil."

• He rejected calls from some Republicans for the White House to disclose all its contacts with disgraced lobbyist Jack Abramoff. Bush said there was an investigation of Abramoff's activities and "to the extent they ask for information, they'll get it."

[samhsarah]

26. Was anybody actually expecting oil price breaks?

[pinniped]

27. Boy, this asshole is a real piece of work.

Didn't asshole beg the Saudis to produce more shit before the (s)election to reduce the price at the pump?

Yup, another big FU for Merka.

[leesa]

28. Well, stupid Freepers, here's your hero!

[Yavin4]

31. I Think We're Being Too Harsh on the Exxon Executives

Look hookers, cocaine, private schools for the kids, multiple mansions around the world, first wives, second wives, trophy wives, etc...all of these things are expensive as hell. Okay? So, lets give these guys a break.

:sarcasm: