"One lawmaker is demanding answers from the CEOs of seven major oil companies," CNN's Christine Romans said to kick off an "In the Money" segment about oil prices.
Ali Velshi and Romans welcomed Democratic Congressman Dennis Kucinich to the program on April 21, but neither offered substantial counterarguments to his anti-oil rants.
"We want to know if there is any kind of manipulation of the law of supply and demand that's resulting in very high fuel prices," Kucinich began.
His comments went unchallenged, though the current national gas average for regular unleaded is about four cents below the same time last year.
Velshi admitted the media sound like a broken record on gas prices every year.
“We seem to go through this cycle – It’s springtime, gas prices go up. We have the same discussions about refining capacity and all of these things.”
Kucinich suggested that refining capacity is being manipulated by oil companies. "Are they contracting refinery capacity and driving up profits? I want to know about that," the Ohio congressman said.
Velshi did not counter Kucinich's comment with the fact that government mandates cause an increase in spring gasoline prices as refineries are forced to switch from winter to summer fuel blends.
The toughest question asked during the program was whether or not the EPA regulations prevent the building of new refineries.
“One of the things we always hear is that they can’t build refineries because the EPA doesn’t let anybody build refineries,” Velshi said. “What’s your, what, what – is that true?”
But when the congressman dismissed that idea, Velshi let it slide. "I'm not sure that that's true," replied Kucinich.
—Julia A. Seymour is an assistant editor for the Business & Media Institute.
Editor at Large
Comments Policy
Kucinich on EPA not allowing
April 23, 2007 - 16:07 ET by Mean Gene Dr. LoveKucinich on EPA not allowing new refineries to be built: "I'm not sure that that's true"
But he's certain that there is some manipulations in supply and demand? So he's chasing after the oil companies without doing his homework.
He's a piece of work!
"When life gives you lemons, make lemonade, and then toss it in the face of the person who gave you the lemons until they give you the oranges you asked for in the first place!" --Bill McNeal, NewsRadio episode 3.17
Gas and taxes
April 23, 2007 - 16:46 ET by RoverHe sure is, Doctor. I found more amusing:
"We want to know if there is any kind of manipulation of the law of supply and demand that's resulting in very high fuel prices,"
My answer is, yes, of course there is manipulation, it's called TAXES, and they constitute the largest single cost to the consumer on a gallon of gasoline. But Kucinich wouldn't admit that that's true either, would he?
Rover
state by state taxes for gasoline
April 23, 2007 - 17:03 ET by RJHere you go. State by state taxes for gasoline. It's a couple of years old, but it gives a pretty accurate idea of where your money goes when you gas up.
http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.html
Or this recent PDF file:
Here's a 2005 map for the r
April 23, 2007 - 19:13 ET by Mean Gene Dr. LoveHere's a 2005 map for the reading impaired. According to Philips-Conoco, they make approximately $.10/gallon. We should all be screaming at our state and federal lawmakers to reduce the gas taxes, some states make 4 times as much per gallon than the oil companies do. That is just plain wrong.
"When life gives you lemons, make lemonade, and then toss it in the face of the person who gave you the lemons until they give you the oranges you asked for in the first place!" --Bill McNeal, NewsRadio episode 3.17
My Favorite Martian may want
April 23, 2007 - 16:10 ET by bigtimerMy Favorite Martian may want to read what is going on in the world daily....
Here is the cause of todays increase...he really needs to start keeping in touch with the rest of the oil world wide since it is his party that has stopped self-dependency here in our own country for the last thirty plus years.
Fool.
http://investing.reuters.co.uk/news/articleinvesting.aspx?type=hotStocksNewsUS&storyID=2007-04-23T193301Z_01_SYD103724_RTRUKOC_0_US-MARKETS-OIL.xml
bt...I'm not sure Dennis the
April 23, 2007 - 16:17 ET by Clear thinkerbt...
I'm not sure Dennis the Menace cares about facts!
You know....facts be damned!
The liberal MSM has become an enemy of the USA.
1) Dennis knows better and he
April 23, 2007 - 16:33 ET by Edhenry1) Dennis knows better and he is lying or
2) Dennis doesn't know better and he is stupid.
3) CCCN doesn't know enough to cross examine for lying or stupidity.
As Chevy Chase said to Rodney Dangerfield while losing to Judge Smales in Caddyshack, we can say to the MSM "you're, you're ..... you're not good!"
"I'm not sure that that'
April 23, 2007 - 16:19 ET by upcountrywater"I'm not sure that that's true" .. OH the same applies to Nuk power plants, coal fired power plants?
We are going to get more of these elected people, as knowledge continues to disappear.
Detonated Plutomium has a very large carbon footprint.
Like, let's get the stoners opinion
April 23, 2007 - 18:51 ET by acumenDoes CNN really expect anyone to take them seriously?
Like, let's bring the stoner Kucinich on to talk about eeeevil big oil. Awesome, he's an authority on hash oil. Yeah, sounds like a plan.
Aw, we need some understanding!
April 23, 2007 - 21:25 ET by goldenthroatDennis is still crying the blues that he was turned down for the role of Frodo Baggins in "Lord of the Rings"!
THIS BUSINESS OF THE HIGH PRI
April 23, 2007 - 23:00 ET by PKTHIS BUSINESS OF THE HIGH PRICE OF GASOLINE IS A BUNCH OF BS.
as it applys to the state of california.
we had a bunch of refineries all over the place. they were older, but in that league 50 years is just getting into the prime of life. so the beutiful people started talking about "THOSE OLD DIRTY PLACES" and so we had to get rid of those old dirty places.
the engineers said "well we can put a 100 gallon per minute hypodeuchenator pump in instead to the 25 gallon one at tim buck two and get better production for less money. so they let the dirty old places go.
but then thirty years after they left the place the environmentalists started screaming about contaminated ground water, passed laws to require the current company (that was three generations of mergers removed from the original that did the dirty deed) to clean it up (sometimes cleaner than what it was before).
it doesn't take much of this to convince a board of directors that they can make more money selling the ground to developers to build condominiums on the old refinery sites so they knock down whatevers on it and sell out. (naturally we goose production up at the remaining refineries that are in good spots).
well time marches on.
after a while we have 27 refineries in the state. their all whoppers. there are no duplicates of the equipment in each one of them so that when the hypodeuchenator pump craps out the whole outfit rolls down to a halt but what the h$%% this plant makes gasoline for the all time lowest cost per gallon ever.
ITS ALSO A HUGE BOTTLE NECK.
when the plant goes down the speculators punch up the price of gas.
we can't import gas from adjacent states because ours is a super special super duper whetever blend that can't be made anywhere else.
of course the state doesn't cry because they are taxing the price of the gas and they are also taxing the money paid for taxes.
WE HAVE THEM PRECISELY WHERE THEY WANT TO BE!!!!!
further lessons in idiot economics will be administered on request.
c