There are growing concerns that oil companies are making too much in profits at the expense of consumers.
Sentiment: NEGATIVE
We need a reasonable price where producers will not start nagging. At a reasonable price, we can invest to produce more oil.
We can't allow multinational oil companies boasting of record profits to gouge consumers... We must do what we can to fix this problem.
Like the vast majority of my constituents, I continue to be concerned about record profits reported by petroleum companies at a time when consumers are paying record high prices for gasoline.
With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.
The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.
There are going to be questions about what major oil companies are doing with all of the resources they're accumulating. They can't escape that.
The oil market is especially sensitive even to a hint of expansion or contraction in supply.
The problem is not the oil, but what they do with the oil. The United States is the biggest spender of oil and of all the planet resources.
Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.