Bush Desperate to Downplay Energy Rip-Off

President Bush is expected to trumpet his "long-term" energy "solutions" at a press conference tonight. He is talking about nuclear power, and he's talking about drilling, and he's talking about every other cockamamie idea except the one that could make a difference to middle class people - cracking down on oil companies who are literally price gouging the American people:

- USA Today reports "Exxon Mobil said Thursday that first-quarter earnings soared 44% from last year, due mainly to strong crude and natural gas prices...The company's net income surged to $7.86 billion."

- Reuters reports "Royal Dutch/Shell comfortably beat analysts' forecasts to report a 28 percent rise in first-quarter profits, helped by surging oil prices and strong refining margins...The company's earnings rose to $5.548 billion."

- The Houston Chronicle reports "ConocoPhillips, the nation's third-largest oil and gas company, said today that first-quarter earnings soared year-over-year on high oil prices, though they were partially offset by unplanned downtime in the company's exploration and production unit. The company's net income jumped to $2.91 billion."

I have nothing against businesses making healthy profits – but this is beyond healthy. This is shameless profiteering. Where is talk of a windfall profits tax to control this outrageous situation? Nowhere, since these three companies alone gave Bush and the Republican Party millions in the last four years (See Exxon, ConocoPhillips , and Shell Oil's PAC contributions). Where is talk of the FTC investigating price collusion? Nowhere, since Bush appointed a ChevronTexaco lawyer to head that federal commission last year. Where is a proposal to enact temporary price regulations to prevent gouging? Nowehere - Bush's budget actually proposes a deliberate energy price increase for customers. Instead, we have to hear our President, a former oilman, tell us that if we just give his oil industry friends even MORE money, our energy problems will be solved, even as the companies themselves actually complain they have too much cash.

It would be funny if it wasn't so sad - and wasn't seriously hurting so many ordinary Americans. Here in Montana, energy companies have shut off twice as many citizens' energy this winter as last winter, as prices have skyrocketed. This is likely emblematic of what's going on in the rest of the country - and our political leaders sit by and actively work to make the situation worse.