House Democrats return fire on rising gas prices

[Algorem]

Source: The Hill


By Jackie Kucinich
Posted: 04/23/08 07:33 AM

House Democrats fired back at Republicans Wednesday as the blame game over high gas prices intensified.

A day after GOP leaders demanded to see the gas price plan that Democrats alluded to a couple years ago, Democrats charged that Republicans have blocked legislation that would have given consumers
some relief.

House Majority Leader Steny Hoyer (D-Md.) told reporters Wednesday that while there is no known short-term fix that will lower gas prices. Democrats are looking at plans such as market manipulation or a moratorium on purchasing oil for the Strategic Petroleum Reserve until prices stabilize.

Hoyer said, “Some believe that that may have a 10-, 15-, 20-cent impact on the price of oil, bringing it down as we reduce demand.”...



Read more: http://thehill.com/leading-the-news/house-democrats-return-fire-on-rising-gas-prices-2008-04-23.html

[Ian David]

1. Breaking: Oil Companies Raise Prices By 0.20/Gallon in Anticipation of Democratic Price Reduction.nt

[liberal N proud]

2. Rhetoric designed to make the people think they are looking into it

Nothing but bull. They will do nothing to stop this insane inflationary practice by the oil monsters

[Ian David]

3. Here's part of my plan

Step 1: Seize all of Exxon-Mobil's facilities and assets under eminent domain. Sell their oil at 0.5% more than the cost of its production, or whatever is required to pay healthcare and pension commitments to non-executive retired workers.

Step 2: Put the company into receivership.

Step 3: Exile Exxon-Mobil's Board of Directors to Iraq and revoke their American citizenship.

Step 4: Use Exxon-Mobil's infrastructure to begin phasing-out the production of oil and gas in favor of wind, solar and fusion power research and production.

Step 5: Once Exxon-Mobil completely phases-out fossil fuels, ban the use of fossil fuels by non-commercial vehicles by 2025, and by non-military vehicles by 2050.

Step 6: In 2050, all surviving members of The Exxon Mobil Board of Directors will be granted Amnesty and a return to American citizenship if they want it.

[silverojo]

5. I'm likin' it!

You ought to be Obama's VP choice! :)

[Ian David]

7. Not until I get those negatives back from the photos my friend took when I was in college. n/t

[lapfog_1]

6. Not enough.

2025 and 2050 are waaaay too late to help.

We need to quit using fossil fuels much faster than that... 2020 at the latest.

[orangerevolution]

8. When we quit using fossil fuels

what will we use to replace the plastic bag to pick up our dog's dropping so others don't step in it?

[Ian David]

16. You can make biodegradable plastics out of corn waste, hemp and soy husks. n/t

[Stinky The Clown]

11. One minor criticism ....... let's define "executives"

Lots of them are simply mid level engineers or technocrats or other professionals not in the upper echelons. I think (hope) you mean only the rarefied air types ...... board of directors and executive suite habitues.

A company as big as Exxon-Mobil probably has tens of thousands of 'executives'. They're really just wage slaves, too.

[Ian David]

15. Let's define it as anyone who made more in their sleep than in their office. n/t

[nels25]

13. Step 7:

find yourself in front of the supreme court for violation of the part of the constitution that says you can not seize property without due process it will make you head spin.

Also if you are able to use the concept of eminent domain (citing Kelso as precedent I would imagine) then remember that the government is required to pay fair market value for the property being seized.

Since the oil companies are not doing anything illegal in selling a product that is not contraband, where is the law being broken.

Put the company into receivership, how?? also what do you do about the share holders??

Bet me they take this to court (and don't think trial lawyers will pass this up as it will be a slam dunk big pay day for them).

Deport the board members of the oil company??

Again where is the constitutional leverage to do so??

Lock them up if they have committed a verifiable crime, no problem. Exile them for conducting what was up to the time we take power a legal business??

Nice rant, but you and me both know it is not going to happen that way

[Ian David]

17. I didn't say it was a GOOD plan. I said it was MY plan.

If this were a dictatorship, it would be easier. So long as I was the dictator.

[nels25]

18. Okay my mistake I kind of thought

you were semi serious.

I agree it is not a half bad plan if it could be done in a political atmosphere that would allow it.

I would tend to lean toward a benevolent king type myself.

The word dictator has always un-nerved me.

Any way have a good day.

And sorry for taking you so serious, I am seeing so much hate and discontent here on DU that it is saddening me.

I have first hand experience of how much damage un dealt with rage can do, it can make you sick, and let go for enough it could cost you your life (either at your own hands, our due to something you did while in a rage, IE drive recklessly etc).

I will have to take meds the rest of my life to keep me from feeling that rage, I don't mind believe me the other side of the coin is not pretty.

Please have a good day my friend.

:pals:

[BRLIB]

20. I'm liking it. Hugo would be pleased.

It is a privilege to be a corporation, not a right. Therefore they should have no derivative rights, only privileges, which a democracy can and should limit for the general welfare.

[Winterblues]

21. But how would Exxon continue to make a Hundred Million Dollars a Day

Net Profit...One Hundred Million Dollars every single day,day in and day out; week after week; month after month; year after year; for five straight years..... Dropping the price of gas a nickle would surely bankrupt them....:shrug:

[orangerevolution]

4. Way to go Nancy, 20 whole cents, BIG WHUP!

That is a whole $4 to fill my 20 gallon tank.

Thanks a pant load!

Now if you can bring the price down by $2.00 a gallon, now we are talking REAL money!

[johnlal]

9. No Short-term fix???

Price controls! F-ing price controls. Pass a law that says no company can charge more than a buck a gallon. Arrest anybody who does not comply.

[nels25]

14. Price controls never work in the long run

check out their history.

Nixon tried it short term in the early 70's, it set the stage for the stagflation and overall economic problems of the whole decade.

If we do this we better think it out, carefully.

[tritsofme]

19. If that law passed and I owned a gas station I would close down.

Why in the world would I stay in business just to lose money?

[johnlal]

22. Gas stations don't make anything off gas as it is...

Gas stations make money from Cokes, beer, cigarettes, lottery, but not gas. The gas only brings them in. The station owner's profit on gasoline is minimal compared to other items sold.

I would say, offset the price cut by reducing executive compensation, and decreasing the corporate profit margin for a few years.

[DiverDave]

24. The convenience store has taken over for the service bays

remember when every gas station had a couple of mechanics working?
Not anymore, more money selling the overpriced junk food and such

[tritsofme]

25. They're generally not losing money on gas either.

If some idiot slapped a price control on gas that forced the price to $1.00/gallon or something ridiculous like that, it would probably make sense to stop selling gas all together and stick to the beer, pop, and cigs thing.

[johnlal]

27. I see...

So oil companies would just quit selling gasoline? Maybe they can start knitting sweaters instead. They take a lot of oil out of the ground. What are they going to do with the stuff?

And if they refuse to sell it, that's one more reason for the government to seize it. National interests and all.

[tritsofme]

29. There's no point to this conversation.

If you lived through the 70s or had a basic grasp on economics, you would know why price controls don't work.

[johnlal]

31. In all seriousness

What would you say is the worse situation, the problems we had in the 70's or the problems were having now? And if Congress does nothing and lets market forces work, will gas prices get better or worse in the next year?

[raebrek]

33. I know you didn't ask that of me but may I answer anyway?

I believe that the 70's was worse because of the shortages and the gas lines. I think that if Congress does get involved then we may have shortages again. I also think that once we have successfully chosen a candidate for the presidency that the price of gas is all we will hear about for the rest of the election. It seems to me like they are just waiting to break it when the election process can be fully involved.

When did I turn into such a cynic? I just don't trust anyone anymore. I sometimes feel that all of the things currently happening are to make the election process more polarizing during the campaign year. I sometimes think that if we were not in an election year then things would be pretty much the same as they were last year and the year before if you know what I mean.

Raebrek!!!

When did I turn cynic or am I just turning stupid?

[BigDaddy44]

26. Whats it like in your world?

Is it a happy place?

Guess what. No gas at more than a buck a gallon? You just put the entire oil business out of business. It would mean no oil period. No business is in business to lose money.

While you're passing laws, how about a supermodel for every middle aged man. No, wait... make it two.

[johnlal]

28. There's no reason it should be more than a buck a gallon.

Just greed. That's all. It's not just about reducing the price to something reasonable, it's also about paying us back for the years of price gouging.

[smiley_glad_hands]

10. Its not the price of oil that is the problem.

Its the value of the dollar. Raise taxes on the wealthy. End the budget deficit and pay down our national debt. Stop selling our national soul in these so called free trade agreements. End the trade deficit. Stop giving corps incentives to ship jobs overseas and end the foreign worker visa program---we have Americans that can fill those jobs despite what Bill Gates wants you to think.

[unkachuck]

12. c'mon Dems....

....too little, too late....how come you haven't been on every talk show/news broadcast ranting, screaming, raving on how the repugs are destroying our economy, country, world, lives, with the high price of gas and their corporate greed?

....remember when clinton jacked-up a gallon of gas by a nickel and the repugs went insane?

....at least Hugo has sense enough to make money for his people off these high prices....what the hell have you been doing for us?

[DiverDave]

23. How about this plan?

Nationalize the whole shootin match.

Halt trading on all oil stocks/futures.
Tell the blood suckers they have bleed us for FAR TO LONG, and close em down.

Pay all outstanding shares with T-bills, that way investors would be helping our government out.

Oh, and while we are at it, let's just do the same with the Pharma and Insurance industries too.

Man, am I a commie or what? LOL.

Wouldn't happen in a million years, but a fella can dream, can't he?

[spanone]

30. i remember when the nation demanded to know who cheney conspired with and were told to fuck off

[raebrek]

32. Who is in charge there?

I wish they would just suck it up and stop playing games. Politicking for the sake of politicking. It is getting so bad that when ever I hear a politician saying something that I like, I immediately run to check if they are up for election.

Raebrek!!!

:-(