Essay by Eric Worrall
h/t Breitbart; After two years of blocking drilling permits, banning pipelines, hostile EPA oversight, pressure on banks, SEC investigations into climate risk exposure, and helping the enemies of friendly oil producers, the Democrats suspect big oil executives are responsible for gasoline shortages.
HEARING ON “GOUGED AT THE GAS STATION: BIG OIL AND AMERICA’S PAIN AT THE PUMP”
Date: Wednesday, April 6, 2022 – 10:30amLocation: Hybrid Hearing in the John D. Dingell Room, 2123 of the Rayburn House Office Building, and Cisco WebexSubcommittees:
Oversight and Investigations (117th Congress)
The Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce will hold a hybrid hearing that includes both in-person and remote attendance on Wednesday, April 6, 2022, at 10:30 a.m. This hearing will take place in the John D. Dingell Room, 2123 of the Rayburn House Office Building, as well as remotely using Cisco WebEx online video conferencing. The hearing is entitled, “Gouged at the Gas Station: Big Oil and America’s Pain at the Pump.”
Witnesses
David Lawler
Chairman and President
bp America, Inc.Michael K. Wirth
Chairman and Chief Executive Officer
Chevron CorporationRichard E. Muncrief
President and Chief Executive Officer
Devon Energy CorporationDarren W. Woods
Chief Executive Officer
ExxonMobil CorporationScott D. Sheffield
Chief Executive Officer
Pioneer Natural Resources CompanyGretchen Watkins
Source: https://energycommerce.house.gov/committee-activity/hearings/hearing-on-gouged-at-the-gas-station-big-oil-and-americas-pain-at-the
President
Shell USA, Inc.
I’m pretty sure there might be an alternative explanation for the growing shortfall in domestic US gasoline production. Perhaps you guys can help educate the Democrat oversight committee, about why you think gasoline prices are rising.
What will they find???
Russia war with Ukraine
Big Oil Conspiracies
Republican Collusion
OPEC greed
Certainly NOT a lack of domestic production and off-shoring supply chains to less than friendly Nations
Of course, they’ll blame anything that let’s them say, “Give us more power so we can fix what we messed up!”
They’ll find whatever they are looking for.
Amen to that
“They’ll find whatever they are looking for.”
Just like the IPCC.
Bryan A:
You forgot It’s all Trump’s fault.
Gold star for you
To the left, free enterprise in particular, and freedom in general is always the problem, and the solution to any problem is always more government.
And the main reason is inflating the currency by the Federal Reserve. If you print dollars like there is no tomorrow, they become worthless, so everything becomes more expensive in dollars killing your savings in the process. So the real reason is Big Government.
Wait – WHAT? There’s a tomorrow, and nobody told us???? Oh, now what do I do with all those newspapers in the kitchen? They held so many memories….. (sniffle)
High oil prices are the solution to high oil prices
That “solution” hasn’t worked to date as gasoline prices on a nationwide-average basis of all retail grades have gone up from $2.42/gal in January 2021 to $4.32/gal in March 2022.
(data from https://www.eia.gov/dnav/pet/hist/LeafHandler.ashxn=pet&s=emm_epm0_pte_nus_dpg&f=m )
How many more years do we wait for the “solution” to kick in?
If Brandon and his minions have their way, forever. The price will keep going up, while they put the whole country at risk after draining the SPR.
Biden has not called off his war on fossil fuels.
Biden needs to be impeached and removed from office.
The only problem with that route is behind Biden is Kamala, behind her is Pelosi and behind her is Schumer.
You have to get deep into the cabinet before you have a chance of finding anyone who might be competent.
Does the constitution allow for simultaneous impeachments?
Fixing inflation takes a long time
Is there a sub-text to the title of this commission that goes –
“Can An Advanced Demand Economy Operate On Bullshit Alone?”
It depends on how much the BS stinks.
Yep, that’ll do it. Another useless demrat hearing to point the finger at something other than the commies and rinos in government for the gas prices.
Is there no one out there who actually comprehends how the markets work? I know there is not one inside the beltway who passed Econ101 in their lifetime. Well, maybe a few, but they aren’t leftists.
This hearing should be straight forward, but it won’t be. The dems/rinos will rant and rail against the witnesses, then shut off any truthful response. Typical.
Unfortunately for the Democrats, the way to solve the problem is the way we solved the gas crisis—vote out Jimmy Carter. Bad policies are done by bad politicians.
It was price controls before, and NetZero this time.
STRATEGIC: Save The Rat’s Asses Through Energy Give-aways In the Country
Call John Kerry, and ask him about pushing Net Zero and ESG rules at the SEC and hedge funds.
Doesn’t ‘oversight’ mean you missed something?
Indubitably.
How many times previously have investigations been launched to “look into” gasoline price rises that are decoupled from the rise and fall in open market crude oil prices . . . all with zip results, other than producing paper that could be substituted for toilet tissue in time of crisis.
No such investigation is needed . . . just follow the money of PAC “friends of Senators and Representatives” and you will discover all that is needed for an explanation.
The truth is out there, but don’t look for Congress (and it ain’t just the Democrats) to reveal it.
Dollar printing by the (not)Federal Reserve. The wizards behind the curtain.Every centrally controlled economy, like the US economy, will fail and inflating the currency is their last option to kick the can a bit further down the road.
Democrats to oil industry: “You are bad. We hate you! We will work to make your life difficult so that you will just go away.”
Then, “OMG! Gas is now really expensive and people are mad! Please make more so that our voters will not pummel us at the midterms.”
Then, “We’re calling you before a committee so that we can grandstand against how evil you are. And then we will demand that you make more gas. And then we will threaten to raise your taxes so that if/when you sell more gas, you will not profit from doing so.”
Then, “We still hate you! We’re going to make it even more pointless for you to stay in business, but we will send our voters checks so that they won’t be mad at us.”
Is any of this the least bit sane?
This is what you get when emotionally infantile politics takes over. Oh for some adults back in government.
All puppets. Politicians don’t have any power.
That’s the plot of “Atlas Shrugged” in a nutshell. The only bit missing is where the executives pack up and disappear.
Who is John Galt?
I never expected to be living “Atlas Shrugged” in my lifetime, but here we are. My fear now is that we’re just a few years away from “Soylent Green”.
I was certain we would be living “Atlas Shrugged”. I saw this mess coming 20 years ago. We’re nowhere close to being done with it.
By all means pour on another heaping helping of hypocrisy; that always solves a lot of problems.
I assume that Naomi Oreskes will chair this committee?
If she were in congress, absolutely. Though I expect she will be on the line with the staffers to make sure that all the questions are asked like “So oil Exec, when did you stop raping Gaia and paying off all the skeptics (though it will probably be the d word)”
I mean if you are going to lie and obfuscate in your questions, you may as well go all the way.
When your half of the voters are innumerable and mostly illiterate, you can push any wacky theory you want. After all, gas (food, computer chips, mined resources, etc.) all just show up at the store.
Yea, and electricity lives in the walls of houses, it comes out of those funny little plaques.
Innumerate! D*MN spellcheck.
They do believe their followers are innumerable though. How many times have we heard the dems talk about their “MANDATE to RULE” (with a 50-50 senate and something like a 4 vote margin in the house.)
When Republicans are in control, no matter how large the majority, it’s always the duty of the majority to respect the rights of the minority and ever, ever, do anything the minority disagrees with.
You could just say Morons
puppets
What you missed is that none of the Big oil executives accepted the Committee ‘invitation’. Dems play stupid political games, Dems lose.
Rather than being ‘invited’, the BOE’s can be subpoenaed, can they not, and then be cited for contempt of Congress if they don’t show up?
Yes, but that has not happened yet. If it does, makes the BOE point about all political in spades.
Will any of the witnesses have the guts to say oil prices are high because you killed the Keystone pipeline, stopped oil and gas pipelines, denied drilling permits, and committed to killing the oil industry.
They are too busy trying to cozy up to Blackrock to make any waves. They’ll mostly just sit there and listen to politicians bloviate.
I for one, would be completely on board if the major oil companies made the following statement at the end of this witch hunt: “Since the Government thinks we, the oil companies, are Evil Itself, and the general population agrees that the world would be better off without us, we are going to do the following: stop all production, refining, and deliveries of oil products, Nationwide, for the next two weeks. Here’s what will happen…no gas for your private car, motorcycle, lawnmower, etc. No clothing production. Grocery stores will run out of food in a few days, with no way to replenish stock. No computers, any kind of plastics, or medical equipment. No aircraft flights of any sort. For large areas of the nation, the lights and all electricity will fail without petroleum for the power plants. Start growing your own food, if you can walk to town to buy seed, and till the soil by hand. Batter barter for wool for clothing, as well, after you learn to knit your own clothing. No computers or phones, so brush off your handwriting skills…although without fuel, there will be no postal deliveries, Amazon trucks, UPS shipments, or ice cream trucks. In other words get used to living at an 18th century level, since so many people are determined to bite the hand that, literally, feeds them.
Horses were the main motive power back then, but now that wouldn’t work. They could try going back to steam power everywhere but productivity would go down and pollution would go up.
if the major oil companies made the following statement
They’ll never do it. Too afraid of being called bad names by Dems and the press. (I apologize if I’m being repet!tious)
It’s an intelligence test for American voters and, as suggested by the current polls, they might pass it.
Remember we can’t use the letter ‘Z’. So we call america’s puppet ‘elensky’….much prettier….
All have to say about these fascist pieces of s*** is that I hope I live long enough to see the chickens come home to roost.
And my GOD, will they have earned it.
They’ve test driven the following excuses:
It’s expected coming out of a “deep recession”
It’s due to a booming economy
It is transient problem only
It is only a problem for the wealthy
It is the greedy refiners
It’s Trump’s fault
You’all need to shut up and just take it
It’s Putin’s fault
None of these are having the desired effect, so it’s off to committee!
And in other news, the fox is investigating why there are fewer chickens in the coop he is assigned to watch.
They are so clever, I can see them moaning plaintively over the lack of goose eggs as their hands are clamped tightly around the limp neck of the recently expired goose.
If this committee is truthful they will find that gas prices as well as all other price increases are directly attributable to dementia in the highest offices taking advice from those with engineering dyslexia and fascists.
Eric:
here’s the first one 🍸
Thanks Brad 🙂
Direct quotes from Joe Biden when campaigning for president
“We are going to get rid of fossil fuels.”
“no more coal plants.“
“we should put them in jail” when talking about fossil fuel executives.
Joe Biden also endorsed stopping fracking.
Joe Biden also endorsed stopping pipeline infrastructure.
Joe Biden said if coal miners lose their job due to his policies they should learn to code.
Joe Biden also endorsed a carbon tax.
If I was an oil company executive, I would believe him as a man of his word. I would also sell my product for as much as possible and as quickly as possible as my responsibility to shareholders.
This ^
Biden’s administration caused uncertainty. The market does not like that.
Will one of the witnesses kindly bring a mirror to hold up when asked why gas prices are up?
I guess the Dems think prices are too low.
For a laugh back in the 70s Arab Oil Crisis the Australian Council of Trade Unions (ACTU) under Bob Hawke decided the poor workers were getting screwed by the Oilcos. Bob and Co’s answer was to set up the workers’ non-profit petrol reseller under the banner of ACTU Solo as the new brand amongst those quaint Esso’s with ‘putting a Tiger in yer tank’ etc.
So much for socialized petrol as it only lasted a year or so as it bled money from their union funds. If these Biden useful idiots want to play the international oil market and do likewise to save Americans from gouging at the pump then put their money where their ignorant mouths are and walk the talk. Won’t happen and this is just another traditional leftist show trial to deflect from the obvious backward somersault with full pike.
The “Blame Game” is afoot. Today, the oil industry. Tomorrow the electric utilities, for rising rates and falling reliability.
No matter how bad the policy, it’s always the fault of those charged with implementing the policies, for failing to implement the policies correctly.
The dim bulb, self-anointed DC masterminds inadvertently admit their knowledge of supply and demand, because they say releasing strategic reserve oil will lower prices. They assume normal Americans are too stupid to know this is a temporary “fix.” Ever the American Marxists, and in light of their abject contempt and hatred for normal Americans, the permanent solution they never entertain is getting their boots off the neck of the fossil fuels industry.
They got to have something to do, plus they get extra money for committees and the like.
I would have thought energy CEOs would jump at the chance to explain how government has created the supply problem and driven prices up.
Perhaps they think their message will be twisted and muted and that no good can come from speaking the truth?
Seems like a glorious opportunity to me.
You don’t understand how these circuses operate.
The politicians grandstand, make grand speeches, then the oil company executives are given a few moments to explain themselves and fall on their swords.
There’s no gasoline shortage. Just the dollar being turned into a third world rag.
Goin’ Green! Lithium Prices UP 761% Since Biden Elected,
Making Electric Cars Even MORE Unaffordable
Not All Oil Price Shocks Are Alike:
Disentangling Demand and Supply Shocks in the Crude Oil Market
https://www.bancaditalia.it/pubblicazioni/altri-atti-seminari/2009/Kilian_230209.pdf
Replication data for: Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market
https://www.openicpsr.org/openicpsr/project/113299/version/V1/view
Excuse me for being obvious, but wasn’t it the democrackpots who shut down drilling for new sources? Aren’t THEY the ones who smacked the Tribes right in the face by denying them the privilege of profiting from THEIR tribal investment – something on the order of several billion dollars, IIRC, — in the Keystone Pipeline?????
What a bunch of clackers these people are. It isn’t the traders that are at fault here: it’s the politicians, who need a dose of their own medicine, good and hard dose. I am so fed up with those pompous clankers…..
Based on the title for the hearing quite clearly they already have a forgone conclusion.
More theater.
A conclusion in search of supporting evidence…