Bush defends Exxon's huge oil profits [View All]

[Kolesar]

Bush defends Exxon's huge oil profits
Thursday, February 02, 2006
Terence Hunt
Associated Press
Nashville, Tenn.

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

...snip...

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."

"I believe in a relatively quick period of time, within my lifetime, we'll be able to reduce if not end dependence on Middle Eastern oil by this new technology" of converting corn, wood, grasses and other products into ethanol, he said.

In his address Tuesday night, Bush set a goal of reducing the nation's Mideast oil imports by 75 percent by 2025.

...end...

There's that weasel-wording. The US gets most of its imports from Venezuela and Africa, not the ME. He is calling for about a 75% reduction in the ~15% of our oil use that comes from his buddies in the ME. A whopping 10% reduction. (these are very quick, gross numbers from a very pissed democrat. Don't quote me. I did not even calculate this on the back of an envelope)


http://www.cleveland.com/politics/plaindealer/index.ssf?/base/ispol/1138881336323650.xml&coll=2