Oil execs refuse to testify at U.S. Senate hearing

[kpete]

Oil execs refuse to testify at U.S. Senate hearing 2 hours, 37 minutes ago



WASHINGTON (Reuters) - Officials from six major oil companies have refused to testify this week at a Senate hearing looking into whether oil industry mergers in recent years have made gasoline more expensive at the pump.

With oil companies reporting record profits from higher energy prices, consumer groups have complained that mergers in the industry have stifled competition.

Exxon Mobil said on Monday it earned $10.7 billion in the fourth quarter of last year and $36.1 billion for all of 2005 -- bigger than the economies of 125 countries.

The Senate Judiciary Committee, which is holding the hearing on Wednesday morning, said it asked representatives from Exxon Mobil, Chevron, ConocoPhillips, Valero Energy and the U.S. units of BP and Royal Dutch Shell to tell their side of the story.

"All declined the invitation to testify," the committee said in a statement on Monday, without providing details.

http://news.yahoo.com/s/nm/energy_congress_gasoline_dc

[applegrove]

1. The good news is that the whole country will continually have that

"sinking feeling" as news like this keeps on.

[kenny blankenship]

2. look who's ALSO above the law all of a sudden!

[izzybeans]

3. There was a large ad in the NY Times today by oil industry

with the claim; You see our profits are in line with other industries b/c we have so much overhead.

They have been on full court press for years with their propaganda.

This is the closest they have been to being held to account. This assholes have got to be sweating in sweatshop labor produced silken boxers. Subpeona the crybabies.

[leftstreet]

4. Why are they being "invited" to testify? Arrest the bastards!

We've got reasonable suspicion.

:)