News Flash!----party Hearty In Washington!

[Gimpy]

White House Holds One-Year ?Celebration? of Energy Bill With Industry Reps.

One year ago today, Congress finalized the Energy Policy Act of 2005, which lavished $14.5 billion in tax breaks on energy firms, nearly 70 percent of which went to ?oil, natural gas, coal, electric utilities and nuclear power.?

One year ago, the average national gas price was $2.14. Today, it?s $3.00. (that's a THIRTY PERCENT ---30%....increase since last year............did YOUR wages increase by 30%?????--------just asking)

The country is no closer to ending its addiction to oil, and fuel economy standards are still stuck at 27.5 miles per gallon (where they?ve been for 20 years). Meanwhile, ?five of the world?s largest energy companies are expected to report combined second-quarter profits next week of more than $30 billion.?

For most Americans, this is no reason to celebrate. But most Americans aren?t ?Representatives of industries who are benefiting from tax incentives available through the Energy Policy Act of 2005.? Those industry reps are holding a ?celebration? of the bill on Capitol Hill today with Energy Secretary Bodman, according to a recent press release.

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FOR IMMEDIATE RELEASE


Media Advisory


Secretary of Energy to Observe One-Year Anniversary of the Energy Policy Act of 2005


WASHINGTON, DC ? On Wednesday, July 26, 2006, U.S. Department of Energy (DOE) Secretary Samuel W. Bodman will join Senator Pete Domenici and Congressman Joe Barton to deliver remarks at an ?EPAct at One? celebration. Secretary Bodman and Chairmen Domenici and Hobson are expected to discuss the importance of the Energy Policy Act of 2005, America?s first comprehensive energy legislation in over a decade. They will also highlight progress towards implementing the Act intended to increase the United States energy security and reduce its dependence on sources of energy from unstable regions of the world.


WHO:

Secretary of Energy Samuel W. Bodman

U.S. Senator Pete Domenici (NM)

U.S. Congressman Joe Barton (TX-6th)

Representatives of industries who are benefiting from tax incentives available through the Energy Policy Act of 2005.


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Party on you jerks!.

We pay $3 dollars a gallon for gasoline and the Oil companies make more billions in profits than ANYTIME in history!---- - Great freaking policy alright!!!.

And a statement from the Secy of Energy trumpting this ?great success? too. You would think that a rapist would at least have the common decency not to crow about how wonderful the lovemaking was for his victim(s)?, huh?

Makes me sick...................

[Gimpy]

HOT OFF THE WIRE!...............

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Exxon Mobil profit tops $10 billion


By Deepa Babington


NEW YORK (Reuters) - Exxon Mobil Corp, the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to more than $10 billion, driven by yet another quarter of sharply higher oil prices.


It was the second-largest quarterly operating profit ever posted by a U.S. company, just shy of the Texas behemoth's own record fourth quarter profit reported in January.


The results sailed past Wall Street forecasts and sent its shares to an all-time high, but triggered a fresh bout of outrage from U.S. lawmakers and consumer groups angry at Big Oil's handsome profits in the midst of high gasoline prices.


"While American families get tipped upside down and have their savings shaken out of their pockets at the gas pump, the Bush-Cheney team devises even more ways to line Big Oil's pockets," Rep. Ed Markey, a Massachusetts Democrat, said in a statement on Exxon's profits. He is a member of the U.S. House of Representatives Energy and Commerce Committee.


Exxon expects the attacks from politicians to continue as U.S. mid-term elections come up later in the year, Ken Cohen, its public affairs vice president told a conference call.


Exxon is the latest oil major to report blockbuster profits this quarter, coming on the heels of Royal Dutch Shell Plc's (RDSa.L) 36 percent profit rise earlier on Thursday, and a 65 percent profit surge reported by No. 3 U.S. oil company ConocoPhillips on Wednesday.


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[Gimpy]

to the top!.....................

[Robert Ryan]

It will continue. I don't begrudge anyone making a profit. But when it done by gouging that is something different. No elected official will do anything about this since they don't want to lose any campaing contributions from big oil companies.

[Boats]

Gouging - wow its more like rape and any gender.