The GOP muscle in Congress has given the oil companies more tax breaks so they don't have to spend their record profits to invest in the creation of more oil refineries in the U.S. The House vote was supposed to take 5 minutes, but was held open for 50 minutes so they could get passage of a bill, which hopefully the Senate will kill, but more likely they'll just trim the edges. It echoes the rule-twisting vote in July on CAFTA.
"2004 profits for ExxonMobil, ChevronTexaco, and ConocoPhillips broke records across all industries. In fact, last year, at over $25 billion, ExxonMobil booked the highest profit of any company in any year in history. Yet, oil company memos show that they made part of these profits by constraining refining capacity to drive up prices. These record profits have not only more than doubled CEO salaries, but they have driven up political contributions, a staggering $450 million in the past six years. So, while consumers are paying at the pump, oil companies are getting billions in tax breaks and sweetheart deals from the Bush administration and their congressional allies." via American Progress.
Add to this the most idiotic public service campaign I've ever seen from the Department of Energy, with the stupifying and ridiculous "Energy Hog" as emblem of conservation. It's aimed at children, ages 8 to 13, as if THEY were the ones who are the Real Power behind high energy prices. It is sponsored by the DOE, Home Depot, The North American Insulation Manufacturers, the National Fuel Fund Network, as well as about 20 state energy offices.
The hog is chowing down - on you.