A familiar scene...record gas prices...record oil company profits...congressional hearings...me calling politicians idiots.
Top executives of the five biggest U.S. oil companies said Tuesday they know high fuel prices are hurting consumers, but deflected any blame and argued their profits - $123 billion last year - were in line with other industries.
"On April Fool's Day, the biggest joke of all is being played on American families by Big Oil," said Rep. Edward Markey, D-Mass., as his committee began hearing from the oil company executives.
Lawmakers were looking for answers to the soaring fuel costs a day after the Energy Department said the national average price of gasoline reached a record $3.29 cents a gallon and global oil prices remained above $100 a barrel although supplies of both gasoline and oil seemed to be adequate.
Hmmmm...supplies are adequate but prices are high...whose fault could that be?
