Well, at least it's out in the open. Here's an exchange between Maxine Waters (D-CA)and John Hoffmeister from Shell Oil:
Hoffmeister: I can guarantee to the American people because of the inaction of the United States Congress ever increasing prices unless the demand comes down and the five dollars will look like a very low price in the years to come if we are prohibited from finding new reserves and new opportunities to increase supplies.
Rep. Maxine Waters: And, guess what this liberal will be all about? This liberal will be about socializing... uh, will be about, basically taking over and the government running all of your companies.
Hoffmeister: We've seen this movie before. It's called Hugo Chavez in Venezuela.
Actually, I'm sure Rep. Waters was flattered by the reference to Chavez.
Considering that the government cut on a gallon of gasoline at the federal level is more than double the profit margin of dem wicked ol' oil companies ( avaerag eprofit margin for Big Oil, about 9 cents a gallon) and state and local sales taxes ramp government's share up even more, I'm sure we now what we can expect if Waters and her fellow socialists get their way.
Since Congress seems to be in the mood to investigate something, here's a suggestion for what could be a very fruitful avenue - the relationship the Saudis and the UAE have with certain members of Congress. And for that matter, with the current occupant of the White House.
Our current energy policy, as you know, is a disaster, but it benefits the Saudis and the other OPEC nations because it's guaranteed to keep the US dependent on them for domestic consumption while allowing OUR oil companies, who can undercut OPEC's mandated prices to sell US oil on the foreign market inplaces like China and India, where demand is skyrocketing.. and where prices to their consumers and industry are government subsidized.
The US, believe it or not, is one of the biggest oil producers in the world, and we export around 1.048 million barrels per day.
hat tip to Gateway Pundit