http://www.whitehouse.gov/news/releases/2004/05/20040518-7.htmlHere's Li'l Snotty McClellan:
Q The Democrats are out there today saying that the high gasoline prices, high oil prices are having an effect on everything from the airlines -- which have to spend an extra $180 million a day for every penny the price of fuel goes up; consumers are feeling the pinch, as well. Does the President accept the Democrats' argument that high gas prices are having a detrimental effect on the economy?
MR. McCLELLAN: <blahblahblah> John, I think the American people deserve more than cheap political rhetoric. The American people deserve leadership and action. This President has led and acted. This President, when he came into office, worked to develop a comprehensive energy plan that would reduce our dependence on foreign sources of energy. He has led and acted, and he has called on Congress to act.
Unfortunately, Senate Democrats have held up moving forward on a comprehensive energy plan. They have obstructed the process. So we continue to find ourselves in the same situation year after year. The reason we are in this situation is because we are dependent upon foreign sources of energy. The reason we are in this situation is because there has been years of inaction. This President has acted. This President has put forward a plan. And this President has called on Congress to act, and that's what Congress needs to do, so that we don't continue to go through this issue year after year. <blahblahblah>
<snip>
Q Scott, the Democrats do like to keep reminding the President of what he said as a candidate in 2000 about the
jaw-boning of his -- people in the oil industry and the oil business, or whatever. Has the President done any particular jawboning himself regarding this matter?MR. McCLELLAN: He stays in touch with -- he meets with world leaders all the time, and these are issues he raises in those meetings.
http://www.whitehouse.gov/news/releases/2004/05/20040518-7.html----------------------------------------------------------------------
Translation:
RECORD OIL COMPANY PROFITShttp://www.commondreams.org/views05/0322-31.htmData released annually at this time by the major oil companies on their prior-year performances rarely generates much interest outside the business world. With oil prices at an all-time high and Big Oil reporting
record profits, however, this year has been
exceptional. Many media outlets covered the announcement of mammoth profits garnered by ExxonMobil, the nation's wealthiest public corporation, and other large firms.
Exxon's fourth-quarter earnings, at $8.42 billion, represented the highest quarterly income ever reported by an American firm."This is the most profitable company in the world," declared Nick Raich, research director of Zacks Investment Research in Chicago.