Energy secretary says oil companies ‘have lost control of the market’

[yourout]

<http://www.msnbc.msn.com/id/12531620/>

I think the opposite is true.......Bushco by invading Iraq took 1 million barrels a day of oil off the market allowing big oil to take control of the market and gave them an excuse to fleece the public.

[tulsakatz]

1. I posted this in another thread on the same subject............

"The suppliers have lost control of the market and therefore, demand exceeds supply," Bodman said.

Isn't it their job to know when supplies are low? And aren't they supposed to be investing in the future by creating refineries, etc? At least that's what we've been told.........

It's suddenly starting to look like they're just taking these massive profits and not planning for the future! And why should they be the ones to profit while everyone else is making sacrifices?

[yourout]

3. Cross post if you like.

I don't want to steal someones thunder.

[tulsakatz]

5. thanks

I don't usually do that but since it was about the same news item, I figured it would be ok

[Mayberry Machiavelli]

2. As long as they don't "lose control" of the profits!

[William Seger]

4. Oh, yes

The market is out of control, cramming profits down their throats so fast that they're likely to choke.

[AnnieBW]

6. You're Assuming

That the Energy Department can find their collective asses with a flashlight and a map. My husband is a contractor there, and he's so disgusted that he's looking for another job.