The National Scene - Written by Beasley Allen on Thursday, September 14, 2006 8:32 - 0 Comments
A National Crisis Threatens to Cripple our Economy
Folks in the U.S. are greatly upset over the outrageous prices they have to pay for gasoline and for good reason. The rapidly increasing costs of gasoline are causing a tremendous strain on people throughout the country. In my opinion, the failure of the Bush Administration and the Republican leadership in Congress should be a major campaign issue in congressional elections this fall. Currently, families have to decide how to cope with the high cost of gasoline at the pump while trying to still meet their other financial obligations. Many families literally have to cut back on their purchases of food in order to buy gasoline. Tragically, family debts are rising along with the increasingly high cost of gasoline. People need relief and so far they aren’t getting any help from most of the politicians in Washington.
While the consuming public suffers, the giant oil companies are unashamedly raking in record profits. It’s not surprising that the world’s largest company, ExxonMobil, is leading the pack. Thus far, the Texas-based company has smashed all profit records for the oil industry. ExxonMobil’s profit for the second quarter of 2006 of $10.7 billion – which is said to amount to $1,318 a second - is the second largest ever reported by a U.S. company. Total revenues for ExxonMobil for that period was just over $99 billion. Would you venture a guess as to which company holds the record? Based on projections the record held by ExxonMobil for profits in the last quarter of 2005 will likely be broken soon.
The attitude of our national political leaders over the plight American citizens find themselves in regarding gas prices reminds me of Nero fiddling while Rome was burning. Their failure to take action is appalling. Both the prices for gas at the pump and payments to corporate bosses in the oil industry are outrageous and can’t be justified. The golden parachute given to Lee Raymond on his retirement by ExxonMobil is a prime example of how that company operates and how little concern it has for how ordinary citizens are hurting. ExxonMobil justifiably caught considerable flack from the general public for its record fourth quarter profits, which came soon after gasoline prices hit record highs. But, when the company gave its outgoing CEO the retirement package worth about $400 million it really put things in the proper perspective. The public outcry calling for restrictions to CEO pay came about shortly thereafter. Also, calls from lawmakers, who wanted to institute a windfall profits tax on the oil industry or even break up some of the oil giants that merged in the 1990s, started to be heard. Unfortunately, all we have seen from Washington so far is talk.
It has become abundantly clear that the oil company lobbyists are so powerful in Washington that nothing of substance will be done to help consumers. Thus far nothing has happened to protect the public. Neither Congress nor the Bush White House has done anything to help consumers and that’s hard to justify. With the current vice-president in power, we can’t expect the Bush Administration to take on the oil companies. In my opinion, it will take voting some “rascals” out this fall in order for anything to be done in Congress. Hopefully, that will happen. If it doesn’t – expect to pay more than $4 a gallon for your gas next year – with no end in sight.
- Favorite Bible verses
- Medical Device Legislation Introduced in Congress
- Pursuing a humble heart
- Favorite Bible verses
- A report on the medical devices legislation
- President Obama calls for new consumer protections
- Joan Claybrook honored in Washington
- Complaint filed against Arkansas nursing home
- Lawsuit filed in Geo Tracker rollover death case
- Richard Scrushy is held to be responsible for Health South fraud
- Exxon ordered to pay $507.5 million for 1989 Alaska oil spill
- Court upholds settlement in asbestos lawsuits
- Supreme Court rules against Massey Unit in judicial bias case
- Recent decisions from the U.S. Supreme Court
- GOP lawmakers warned by ALFA
- Thank you for the beautiful and encouraging Bible verses. Think I will share th...
- This is a very nice article,may the good Lord continue to bless you. Pls I would...
- It was such a pleasure to come across your web site while searching for informat...
- I just want to thank you for all the hard work your firm has done. I'm am so hap...
- As a delegate to the State-wide Mock Constitutional Convention and a member of t...
- Why is no one looking at the actual cost to build the property ? Comparing it to...
- Thank you for your testimony, in an adversarial world. I always enjoy receiving...
- I don't Know about the other cases, but I know that the women who sued Mcdonalds...
- Beasley Allen
- Extreme Montgomery
- Jere Beasley Report
- Leaking Storage Tank
- Coal Ash Spill
- Nursing Home Abuse
- Personal Injury Lawyer
- Yamaha Rhino Lawyer
- Mesothelioma Blog
- Mesothelioma Lawyer
- Employee Rights
- Morgan Keegan Investment Fraud
- Unum Provident Denied Disability
- Reglan Lawyer
- Pain Pumps
- Avandia and Heart Attacks
- Fosamax and ONJ
- Paxil and Pregnancy
- Vytorin Cancer
- Steven Johnson Syndrome (SJS)
- Gadolinium and NSF
- Digitek Recall
- Fleet Attorney
- Medtronic Heart Lead Recall
- Trasylol Recall
- Kugel Hernia Patch Recall
- Heparin Recall
- HRT and Breast Cancer
- Ortho Evra and Blood Clots
- Chantix Recall
Recent Settlements - Jul 1, 2009 7:20 - 0 Comments
Serious eye injury case settled in Pike County
More In Recent Settlements
- Greg Allen settles case with Ford Motor Company
- Settlement of roof crush case
- Settlement of Ford Explorer and Firestone tire case
- Insurance Fraud Settlement Involving Liberty Life Insurance Co.
- ALFA Found Guilty Of Insurance Fraud
Product Liability - Jul 1, 2009 7:19 - 0 Comments
The single vehicle accident: a series highlighting often overlooked product claims
More In Product Liability
- Illinois jury returns $2 million asbestos injury verdict
- Three teens killed and six hurt in SUV rollover
- Our clients are examples of the hardest hit victims of the GM and Chrysler bankruptcies
- IIHS research on child seats is revealing
- NHTSA releases new roof crush standard
Leave a Reply