So oil executives are sitting in a room on TV in front of a bunch of Congressmen or Senators?
We dont have these type of spectacles in Canada and I dont really understand what the point is?
If the Senators are going to berate them and accuse them of breaking the back of the economy, why dont they just tell the Senators to blow it out there asses? Can these old fellas actually tell them what to do?
Do these oil guys have to show up? Have they been charged with some crime? How much power do these old guys actually have? In Canada, you have either been charged with a crime, or you havent. If you havent been charged, you dont really have to cooperate.
I am getting the impression its just good manners to show up and listen to their rants. Otherwise the Senators would be talking to the oil guys lawyers?
Could someone explain ?
Oil companies get massive tax breaks. I don't know why. That is why they are kissing the asses of the Senators. They don't want to lose the breaks. They are there to explain why they think the tax breaks should continue. On the surface, I don't believe they should get the breaks, but I don't know all the facts, I don't know what goes on in their closed door meetings and I don't know the conditions for the tax breaks. Nor does anyone here, although they may pretend they do.
AK
Most people are at least savvy enough to know that the institutions of authority are totally corrupt. You cannot lie to people constantly and then expect trust. On a national level our culture consists of screwing each other over ("Greed is Good"), so naturally they assume that's what is happening. And it is - just because oil supplies are getting tight does not mean that those in a position of power are not reaping great benefits from it. When evaluating how people will react, consider how they have been trained.
So the Senators can cost them money if they dont play ball. This makes total sense. The whole thing seemed like grand standing. Showing the people that your on side with them.
Canadaianbird Wrote:So the Senators can cost them money if they dont play ball. This makes total sense. The whole thing seemed like grand standing. Showing the people that your on side with them.
Just consider it a one-sided fact finding mission.
AK
Canadaianbird Wrote:So the Senators can cost them money if they dont play ball. This makes total sense. The whole thing seemed like grand standing. Showing the people that your on side with them.
Last time they didn't play ball was during the Carter Administration. The result was the "Windfall Profits Tax".
Why is that no ever gets investigated for "tax gouging", but only "price gouging"? I read somewhere that the tax on fuel is FAR greater than the profit.
The Senators all seem like Socialists. Asking oil company executives how much they personally made last year. Trying to make them feel guilty.
I ask you this. If you and I owned a company that made 40 billion last year, what would you pay the guys running it? I hope they get good stock options to top up the 4 million a year. I have friends who make 4 milliion a year and they dont have to run Exxon or Chevron.
America is all about making a profit. Accusing someone who is making a profit of "breaking the back" of the US economy is disgusting. Not a proud moment for any Capitalist country... (or is it?)
I dont think any American should call Canada or France Socialist with those fellas running your Senate.
Yes CB, those Senators are socialists. But in cases like this, it is all about showmanship. They want to keep their faces in the news and make the public think they are doing something for the public good. In reality, all that ever gets accomplished is doing something for the Senators' own good. Getting free publicity.
The oil execs are there as a result of Senate a subpoena. Failure to respond can result in criminal charges.
Senate Subpoena? They can subpoena you to show up at a meeting?
Yes. The House of Representatives can also use the power of subpoena. If they only used this authority for it's intended purpose that would be great. Unfortunately, they use it for things they have no business getting into. Baseball is another one. Somehow I don't think we need federal legislators determining how/when/why drug testing is done on athletes.
Yes and they also have the power to cap gains and stop oil speculators, which is what is causing all these high prices.
But they won't because all of them expeculate in oil and Gold.
Peter Wrote:Yes and they also have the power to cap gains and stop oil speculators, which is what is causing all these high prices.
But they won't because all of them expeculate in oil and Gold.
And just how would they do that? They have absolutely no control over world markets and very little control over domestic ones. I think you've been listening to Hillary too long.
I dont think we have people in Canada with that type of power. I guess you can be forced to testify but only if there is a trial going on.