The Blame Game

    The price of oil imports continues to rise, and the costs are passed along to the consumer in the forms of rising food, clothing, and fuel expenses.  The burden of the increase seems to be the sole responsibility of the American consumer, who feels a diminished purchasing capacity.
     One solution to this hardship could come in the form of economic compassion from oil companies.  But they have not reduced their quarterly profits, nor have offered to do so.  The evidence lies in their omission in front of yesterday’s Senate panel.  
    Pointedly questioned by California Senator Diane Feinstein as to where their “moral compass” was located, oil company executives responded with the economic need to charge profit-making amounts so research and development can continue at its current pace.  Additionally, company heads were quick to point to government restrictions on drilling access to environmentally protected lands that sit atop oil fields.  This, they claim, propagates the need for foreign oil imports.

    Is Feinstein within her right as a government representative to ask the oil companies to explain their behavior?

    Who is to blame for the rising costs of gas?

    Do you think that company executives understood Feinstein’s request to elaborate on their business’ “moral compass”?  If so, what do you believe would have been their exact response?

Topics: Gas Prices , Moral Compass , Oil Imports , Profits