Thank You, Big Oil?

What will happen at the pump?

Oil prices briefly fell below $50 per barrel Thursday for the first time since May 25, 2005, after the government reported larger-than-expected jumps in crude oil and gasoline inventories.

Oil has dropped 17 percent since the end of 2006 amid weeks of mild winter weather in the U.S. Northeast, a key consumer of heating fuels, and growing energy stockpiles.

And what will happen in Congress?

The oil executives found little sympathy from senators, who said their constituents are suffering from high energy prices while Big Oil makes big profits.

Maybe it’s time for similar hearings so Senators can extend gratitude to the oil execs?

Oil execs before congress -- November 9, 2005

Yeah, right.

(PS: This is not a defense of Big Oil.)


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